baz

Baz is a Mexican superapp developed by Grupo Elektra that offers an integrated platform combining financial services, commerce, and entertainment features. Launched in September 2021, Baz targets underbanked populations in Mexico, particularly low-to-middle income consumers and small businesses. The platform bundles over 70 services including digital payments, bill payments, mobile top-ups, money transfers, remittances, access to credit, and QR code payment acceptance for merchants. Users can also access non-financial features such as live television, music streaming, movies on demand, podcasts, and social networking within the same application. The app's financial services are operated by Banco Azteca, part of Grupo Elektra's financial division, which holds banking licenses in Mexico and operates over 2,000 branches. Baz achieved rapid adoption with 6.5 million downloads in its first seven months and reached 12 million users within two years of launch. The platform offers both consumer and business versions, with Baz Negocio enabling merchants to accept digital payments, manage inventory, apply for business loans, and provide utility payment services to customers. As part of Grupo Elektra's digital transformation strategy, Baz aims to promote financial inclusion by providing accessible banking and financial tools to Mexico's underserved populations. The superapp model positions Baz as Mexico's answer to Asian superapps like WeChat, consolidating multiple daily needs into a single digital ecosystem. Grupo Elektra also received regulatory approval in 2024 to establish a new fintech entity, Tecnología e Innovación en Pagos EKT, to further expand its digital financial services capabilities.