Clip
Clip helps Mexican merchants accept digital payments and manage commerce on mobile devices.
Clip is Mexico's leading mobile point-of-sale and digital payment platform that enables small businesses and independent merchants to accept card payments via smartphones and tablets. The platform eliminates traditional barriers to payment acceptance—monthly fees, minimum transaction requirements, and excessive paperwork—while addressing Mexico's cash-heavy economy where 80% of personal consumption expenditure occurs offline. Beyond card readers, Clip offers inventory management, online commerce solutions, payment links, and business financing services, serving over 1 million merchants.
Problem solved
Small businesses in Mexico face complex, expensive barriers to accepting card payments—high monthly fees, minimum transaction requirements, bank-dependent terminals, and extensive red tape—while 80% of commerce remains cash-based.
Target customer
Independent merchants, small businesses, professionals, and retailers in Mexico who were previously cash-only; includes vendors across diverse verticals from street merchants to established small businesses.
Founders
A
Adolfo Babatz
Founder & CEO
Former PayPal Latin America manager who led PayPal's Mexico launch; previously advised Grupo Desc and was part of Carlyle Group's Mexico founding team; holds MBA from MIT specializing in tech strategy and entrepreneurship.
V
Vilash Poovala
Co-Founder
Co-founder of Clip; limited public information available on background.
Funding history
Seed
$1.3M
March 2013
Led by Unknown
· Unknown
Series A
$10.4M
December 2015
Led by American Express Ventures
· Unknown
Series B
$15M
July 2017
Led by Unknown
· Unknown
Series C
$103.9M
May 2019
Led by Unknown
· Unknown
Series D
$250M
June 2021
Led by SoftBank Latin America Fund
· General Atlantic, Angel Ventures
Series D
$100M
June 2024
Led by Unknown
· Unknown
Debt Financing
$50M
Unknown
Led by Morgan Stanley, JP Morgan, HSBC
· Unknown
Total raised:
$497M
Industries
Pricing
3.6% + VAT per transaction with no monthly fees, minimum transaction requirements, or minimum billing. Hardware pricing: Clip Plus 2 (MXN 349), Clip Pro (MXN 1,999), Total Clip (MXN 3,599). Settlements occur every two business days. Supports interest-free installments in 3, 6, 9, 12, 18, or 24 months through participating banks.
Notable customers
Not disclosed; company serves over 1 million merchants primarily in Mexico
Integrations
Inventory management systems, online commerce platforms, payment link generation, DocuSign (for integrations), Amazon Web Services
Tech stack
jQuery (JavaScript libraries)
Open Graph
DocuSign
Google Analytics (Analytics)
Google Font API (Font scripts)
Google Hosted Libraries (CDN)
Webflow (Page builders)
Amazon Web Services (PaaS)
Website
Competitors
Square
US-based mobile POS provider; operates globally but Clip is hyperlocalized to Mexico with payment infrastructure adapted for Mexican banking and cash economy.
PayPal
Broader global payments platform; Clip offers integrated commerce suite (inventory, online payments, financing) specifically designed for Mexican SMBs and informal merchants.
Stripe
Developer-focused payments infrastructure; Clip is merchant-focused with consumer-grade mobile-first design and end-to-end commerce features for non-technical sellers.
Traditional Bank POS Terminals
Require bank account with issuing bank, charge monthly fees, have minimum transaction requirements, involve extensive paperwork; Clip eliminates all these friction points.
Why this matters: Clip has become the dominant mobile payments platform in Mexico by solving hyperlocal pain points—eliminating monthly fees, minimum transactions, and banking friction that plagued traditional POS adoption. Its $497M in funding and 1M+ merchant base make it one of Latin America's most successful fintech exits, demonstrating the massive opportunity in bringing digital payments to cash-heavy emerging markets.
Best for: Small merchants and independent professionals in Mexico who need affordable, friction-free card payment acceptance without terminal rentals or monthly fees; particularly valuable for previously cash-only businesses entering digital payments.
Use cases
Informal Retail Converting to Digital
Street vendors, market stall owners, and small kiosks that historically operated cash-only can now accept card payments via a smartphone with a Clip reader. A taquería owner in Mexico City can accept customer card payments without needing a bank account at a specific bank or paying monthly rental fees, immediately boosting sales and enabling business growth.
Professional Services Payment Collection
Plumbers, electricians, consultants, and other service professionals can collect payment on-site via Clip's mobile reader. A freelance photographer can swipe a client's card at the event, receive settlement in two business days, and eliminate cash handling and reconciliation headaches.
Small Retail Shop Omnichannel Expansion
Existing small retailers can extend sales beyond physical store with Clip's online payment links and digital catalog features. A clothing boutique owner can share payment links via WhatsApp to customers, manage inventory across channels, and offer financing options (installments) to increase average transaction value.
Business Financing via Transaction History
Clip's integrated business loans leverage merchant transaction data to offer working capital. A successful food stand operator with strong Clip transaction history can qualify for a loan without traditional bank paperwork, enabling inventory expansion or equipment upgrades.
Alternatives
Square
Global POS provider with stronger presence in US/developed markets; less optimized for Mexico's specific payment infrastructure and cash-heavy economy.
PayU
Regional Latin American payments processor; broader but less merchant-focused than Clip; lacks integrated commerce and financing features.
Traditional Bank POS Services
Legacy solutions with monthly fees, minimum transactions, and account requirements; Clip's value proposition is specifically built to eliminate these friction points.
FAQ
What does Clip do? +
Clip is a Mexican mobile payment platform that lets small businesses and merchants accept credit/debit card payments via smartphones or tablets using a physical Clip reader. It also provides inventory management, online payment links, digital catalogs, and business financing services—all designed for Mexico's cash-dominated economy.
How much does Clip cost? +
Clip charges 3.6% + VAT per transaction with zero monthly fees, zero minimum transaction requirements, and zero minimum billing. Hardware costs range from MXN 349 (Clip Plus 2) to MXN 3,599 (Total Clip). Settlements occur every two business days with no fees.
What are alternatives to Clip? +
Square (global mobile POS), PayU (Latin American payments processor), and traditional bank POS services. However, Clip's specific advantage is eliminating monthly fees, minimum transactions, and bank account requirements while being optimized for Mexico's payment infrastructure.
Who uses Clip? +
Over 1 million Mexican merchants use Clip, including independent retailers, street vendors, professionals (plumbers, electricians, consultants), small businesses, and informal merchants who were previously cash-only. The platform serves diverse verticals from food vendors to boutique shops.
How does Clip compare to Square? +
Both offer mobile POS via phone/tablet readers, but Clip is hyperlocalized to Mexico with payment infrastructure optimized for Mexican banks and no monthly fees or minimum transactions—key advantages in Mexico's market. Square operates globally but is less adapted to Mexico-specific needs. Clip also integrates financing and inventory management natively.
Tags
mobile payments
POS
point-of-sale
Mexico
merchant services
digital payments
SMB