Adolfo Babatz is CEO of Clip, Mexican fintech that helps small businesses to receive payments with bank cards.
Adolfo Babatz: Education
• 2008, Massachusetts Institute of Technology (MIT), MBA in Economics of Information
• 2001, Autonomous Technological Institute of Mexico (ITAM), BA Economics, Finance, and Marketing
Adolfo Babatz: Early days
Adolfo Babatz worked as an advisor to the CEO of Grupo Kuo as soon as he finished his degree in business administration. Later he was an analyst at The Carlyle Group. After this work, he started an MBA at MIT. Upon completing his graduate degree, he worked with PayPal in San Francisco, CA and was in charge of starting the company’s operations in Mexico.
In PayPal, Babatz obtained the necessary experience to innovate in the development of new payment methods. He also met Vilash Poolava, who would be his partner in Clip.
Adolfo Babatz: Career
Adolfo Babatz looked for a way for more businesses in Mexico to accept
Bank cards. With help Vilash Poolava, he developed the Clip prototype. Babatz resigned from PayPal in 2013 to dedicate himself to Clip, a company that in the first years grew by 800%.
Clip converts any smartphone into a banking terminal. This product solves a problem in Mexico, where a large percentage of the population is not banked but does have a cell phone. Also, the customers of the shops can pay in installments and with any card, regardless of the issuing bank. Thanks to the ease of accepting cards, businesses can increase their sales by up to 30%.
Adolfo Babatz: Distinctions
Adolfo Babatz: Other facts
Clip has received more than 160 million dollars of financing.
Adolfo Babatz received Endeavor recognition as Entrepreneur of the year in 2017. Expansión placed him on his list of 30 entrepreneurs in the 30s.