Porfirio Sanchez Galindo is a Mexican entrepreneur in the fintech industry. He has degrees in economics and math that he earned at Stanford University. He served as a public official before joining Televisa as an executive. He was hired to be the chief economist, but later took on the role of marketing director in its telecommunications division.
He sees fintech as playing an important role in revitalizing the global economy hard hit by the pandemic. Porfirio Sanchez Galindo said the poverty rate in Latin America has increased from 30% to nearly 35%. The economy of Mexico has contracted by 6.5%. Many people can’t afford food, such as in Bolivia, Argentina, Mexico, Honduras, Jamaica, Suriname, the Dominican Republic and Paraguay.
— Porfirio Sanchez Galindo (@PSanchezGalindo) March 20, 2020
While things seem bleak, Porfirio Sanchez Galindo said there is encouraging data about his industry. There has been an increase in fintech startups in recent years. More people in Latin America have smartphones than ever before. They have access to better internet connectivity, which helps them access financial services.
Porfirio Sanchez Galindo recently invested in ePesos. This fintech company gives Mexicans access to a virtual wallet they can use to receive and send money. He sees the democratization of banking services in Mexico as something that will boost the economy and reduce the poverty rate.
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