Unlimint Expands Offerings in Mexico with Acquiring Services

Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company Unlimint, formerly known as Cardpay, has expanded its offerings in Mexico with the launch of local acquiring services in the country.

Announced this week, the acquiring services will provide Mexican merchants access to features like offering installment payments with local payment cards and the ability to accept alternative payment methods on a single business interface.

Commenting on the development, Unlimint CEO, Kirill Evstratov said: “Our localized acquiring solution allows us to take our Mexican customers on a frictionless journey to the 'tomorrow' of global payments.”

“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.”

Founded in 2009, the company rebranded itself last month as it is aiming to expand its global presence. It already has 14 international offices and is now looking to open another in Frankfurt.

60 Percent of LATAM Buyers Are Paying in Installments

The Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company with a global presence entered Mexico last year and since then has been well established in the region. It is mostly helping the European merchants looking to expand their business in the Latin American country.

According to Unlimint, it is covering 95 percent of local payment methods in Mexico. Additionally, the company is bullish on the newly introduced installment services as 60 percent of Latin American e-commerce purchases are currently paid using installment plans.

“The launch of a localized acquiring solution here in Mexico is a major step for our team,” Andrey Novikov, LATAM regional head at Unlimint, said. “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’.”