Flux

Flux (paywithflux.com), also presented as Flux QR, is a Mexico City-based fintech in the payments and consumer credit space. Its current merchant-facing offering lets shoppers apply for credit from their own mobile phone at the point of sale and choose a repayment term, subject to approval. The merchant receives the funds in their bank account and pays a per-sale commission, while Flux collects from the consumer later. The service requires no card and no payment terminal: merchants register, provide business details, name, location and deposit account, and then operate through a single app available on the App Store and Google Play; merchants without an app but with an internet-connected computer are directed to contact the company. Flux also supplies point-of-sale marketing material and sales guides so merchants can inform customers that installment credit is available.

Y Combinator describes Flux as building a payment network for alternative payments, focused on bringing acceptance of all buy-now-pay-later options to on-site merchants in order to maximize customers' buying power. Per that description, the company provides an instant-issuing and payment acceptance solution for consumer credit products and a payment terminal for alternative, non-card credit for retailers.

An earlier 2019 description of the company centers on QR-code payments: Flux QR built a device that attaches to existing bank point-of-sale terminals so shoppers can pay by opening their e-wallet or bank app and scanning a QR code displayed by the Flux reader, without merchants changing their operations or hardware. The approach was positioned as compatible with any smartphone and any terminal, and as an alternative to NFC-based wallets.

Founding story

Flux was founded in 2018 by Max Echeverría and Fernando de la Torre, who had already worked together for roughly ten years, initially as partners in a mobile payment venture that was acquired by PagaTodo. During that period they built payment technology for companies including Starbucks, Cemex and Alsea in Mexico City. After the acquisition they started Flux QR to widen the availability of mobile payments in shops and to encourage banking adoption through digital payments. Fernando de la Torre serves as CTO, responsible for product development and technology management, and holds a bachelor's degree in electrical engineering and an MBA from Babson College. Max Echeverría serves as CEO, responsible for strategy execution and sales, and is a lawyer with an MBA from Babson College. Echeverría's Y Combinator profile notes he has been 're-imagining payments since 2002.'

Business model

Flux operates a B2B model. Merchants register, download the Flux mobile app and offer credit at the point of sale; Flux pays the merchant into their bank account and collects repayment from the consumer later. The merchant pays a commission on each sale, and there is no cost to start. In its earlier QR-payments configuration the company described a B2B model targeting major banks, e-wallets, chain stores and restaurants, integrating mobile banking apps and e-wallets with its system.

Merchants pay a commission on each sale financed through Flux; starting with the service is described as free of cost.

Traction

Y Combinator lists a team size of 9 and an active status. The company website features testimonials from a retail manager at Grupo Herdez and the general director of BonnusCard. As of March 2019 the company reported a network of terminals and was in discussions with major Mexican banks, e-wallets and chain stores.

Latest developments

The company website carries a 2025 copyright and states that Flux is backed by Y Combinator. The Y Combinator company profile lists Flux as active with a team size of 9.