Síclo launched in Mexico City in 2015 to help people become the best versions of themselves. At the time it fulfilled that vision by operating an indoor cycling studio, but the company’s ambitions have grown since then. Today, Síclo has transformed into a digital platform that offers on-demand fitness classes and other wellness services.

As Síclo expanded, it turned to Stripe to offer more ways to pay for fitness products and subscriptions. This included integrating “meses sin intereses” (MSI), a credit card installment payment method that has deep cultural roots in Mexico and is an essential part of everyday commerce. Despite its popularity, MSI can be challenging to integrate into an online checkout due to the range of installment options and the way those change depending on the purchase price. Stripe makes it easy.

"MSI gives flexibility to shoppers and gets them excited about buying something that they might not if they couldn't pay in installments,” said Andrés Lankisch, head of finance at Síclo.

From in-person classes to digital platform

Alejandro Ramos founded Síclo when he opened the company’s first spin studio in the Santa Fe neighborhood of Mexico City. He quickly expanded the business to 10 studios around Mexico, and two additional studios in Madrid.

Along with expanding its footprint, Síclo has developed products and revenue streams that build on its cycling-studio roots. Last year, Síclo released BiSí, a stationary bicycle with a built-in screen for people who want to exercise at home. The product is complemented by BiSí+, a subscription service offering more than 3,000 live and on-demand classes from indoor cycling to boxing and barre. BiSí+ has enrolled more than 100,000 subscribers who can purchase workout equipment from an online store selling mats, barbell sets, step platforms, and more.

"Our plan is to amplify our online store with Stripe by selling more gym equipment and health supplements," said Lankisch.

No-code integrations for interest-free payments

Síclo integrated with Stripe's payments platform, Stripe Billing, and Stripe Radar to offer customers a seamless checkout with a range of payment options. This includes meses sin intereses, one of the most popular ways to pay in Mexico.

Seventy-five percent of Mexican cardholders use MSI, and of them, 85% say being able to pay in MSI is a decisive factor in where they choose to shop online. Fifty-six percent of Síclo’s customers pay for big-ticket items such as BiSí with MSI, making it essential that Síclo’s MSI integration work well.

In the past, integrating MSI into a checkout required significant engineering and UI design resources. But with Stripe, users can offer MSI with just a few clicks in the Stripe Dashboard. They use drop-down menus to customize the length of installment plans—such as three-, six-, or nine-month options—and set rules that display different plans dynamically depending on the purchase price.

“The time it takes a Stripe user to integrate MSI into their checkout with our no-code solution is less than 10 minutes. Other options could take hours, if not days,” said Desmond Mullarkey, head of growth for Stripe in Latin America.

Expanding access to MSI in Mexico

Stripe launched support for MSI in 2020 and now offers it through partnerships with issuers such as American Express, Banco Azteca, Banorte, Banrejio, BBVA, Citibanamex, HSBC, Inbursa, Invex, Nubank, RappiCard, Santander, and Scotiabank.

Over the last year, Stripe introduced a no-code integration of MSI and the number of Stripe users offering the payment method more than quadrupled. The growing accessibility of MSI as a digital payment option means greater flexibility for businesses and their customers. Síclo is one of many companies benefiting from it.

"If we want to quickly launch a new payment method, we need a payments technology partner that can remove complexity so our team can focus on finding new ways to improve the experience of exercising anywhere. That's why we chose Stripe,” said Lankisch.