Latin American technology company Rappi has declared the discontinuation of its virtual savings account service, RappiCuenta, in Mexico, effective from February 11. Customers using RappiCuenta in Mexico were notified of this decision through an email sent by the company last month. The email urged users to withdraw all their funds before the specified closing date. The communication stated, “We inform you that the RappiCuenta product will permanently stop operating in Mexico on February 11, 2024. This allows us to focus our efforts on innovating and offering better products.”
Despite the cessation of RappiCuenta in Mexico, Rappi’s credit card service, RappiCard, will continue its operations in the country. According to a report by Contxto, there are currently no plans to discontinue RappiCuenta in other countries. In response to a user’s inquiry on X at the end of December, RappiCard Mexico affirmed, “We have decided to focus our efforts and resources on strengthening RappiCard and its value proposition. That is why we decided to close RappiCuenta. Your RappiCard will not have any changes, it remains as solid as ever, and you will be able to continue enjoying its benefits.”
Founded in 2015 as a food delivery app by Simón Borrero, Sebastian Mejía, and Felipe Villamarin, Rappi has expanded its services beyond food delivery to become a super-app offering various services, including savings accounts and credit cards. The company claims to operate in nine countries across Latin America and Spain, catering to over 30 million monthly active users.