Unlimint commenced expansion into the Mexican ecommerce market in 2019 and has quickly become one of the region’s key fintech players.
Unlimint’s acquiring services will now give merchants in Mexico access to a myriad of new features, including the ability to offer instalment payments with local payment cards and the acceptance of alternative methods, like cash-based payments and bank transfers, through an all-in-one easy-access business interface.
Kirill Evstratov, CEO of Unlimint commented: “Our localised acquiring solution allows us to take our Mexican customers on a frictionless journey to the ‘tomorrow’ of global payments. A tomorrow where they can offer their clients the ability to pay how and where they want, whether up front or in instalments, all without having to sign new agreements with acquirers.
“We developed an adaptive ecosystem that is capable of processing and managing several different regions at once with all their merchants, regulations, technical differences and accounting. Our clients will be able to accept both cards and APMs, and offer instalment payments with local payment cards through an all-in-one easy access business interface.”
This allows Unlimint to now cover 95% of local payment methods in Mexico, which is vital in a country where 63% of the population are unbanked and only half of ecommerce transactions are made using a debit or credit card, while the remaining are performed via local convenient stores like OXXO, 7 eleven, Walmart etc.
Andrey Novikov, LATAM Regional Lead at Unlimint added: “The launch of a localised acquiring solution here in Mexico is a major step for our team. It allows us to offer our merchants a solution that was created with their specific market challenges in mind – is more cost-efficient and is simply more convenient. Now we are truly ready to take over Mexico’s eCommerce market, offer our merchants an answer to their everyday payment pains and help them to be ‘ready for tomorrow’.”