Nubank’s (NYSE: NU) latest milestones highlight its accelerating momentum across Latin American markets, blending customer growth with new payment technology that aims to put users in control of their finances. In Mexico, the digital bank has now surpassed 15 million customers, firmly establishing itself among the nation’s three largest financial institutions by user base. This landmark comes after the company tripled its scale in only two years, welcoming roughly 12,000 new account holders each day and posting 36 percent year-over-year expansion—outpacing even its record-breaking Brazilian origins.
Daniel Rojas, Nu Mexico’s Chief Growth Officer, credited the milestone to the millions of Mexicans who have embraced the platform.
“In just seven years we have earned a level of trust that once required decades,” he noted, emphasizing the bank’s promise to keep innovating so customers retain full command of their money.
The expansion reaches far beyond big cities. Nu’s footprint now rivals the third-largest fan base in Mexico’s top soccer league, with especially strong adoption in Mexico City, Quintana Roo, Nuevo León, Tabasco, and Baja California Sur.
By operating entirely through a 24/7 digital platform without physical branches, the bank handles more than 30,000 customer requests daily while preserving a personal touch.
This model fuels a self-reinforcing cycle: larger user numbers generate richer data, which sharpens risk models, lowers costs, and lets the company reinvest in better rates and smoother experiences.
The results speak volumes—credit balances rose 61 percent and deposits climbed 21 percent in the past year alone, making Nu the go-to choice for both saving and borrowing.
At the same time, Nubank is redefining everyday transactions in Brazil with a major upgrade to contactless payments.
The new “Pay by Tap” feature, now rolling out to Android users with NFC capability, lets customers complete purchases by simply tapping their phone at any compatible terminal—no physical card required.
What sets it apart is the seamless integration of three payment methods into one fluid action: instant Pix transfers, Pix installments stretching up to 12 months, debit, or credit.
Users can access the tool directly from the “My Cards” or Pix sections of the app; setup happens automatically by creating a secure virtual card behind the scenes. A tap at checkout then handles everything, while device biometrics or passwords add an extra layer of protection.
Tokenization ensures merchants never see actual card details, sharply reducing fraud risk and eliminating the need to carry plastic.
Fausto Ibarra, Vice President of Digital Ecosystem at Nubank, explained the thinking behind the update: the goal is to collapse every payment option into the simplest possible flow, especially for the millions who rely on Pix daily.
Customers can even set the bank as their default wallet or pin a shortcut to their home screen for instant access.
The feature will continue expanding gradually, but early adopters already report faster checkouts and greater peace of mind. Together, these developments paint a clear picture of Nubank’s business strategy, which focuses on scale in new markets paired with streamlining digital banking.
