Unlimit and DEUNA Forge Partnership for LATAM Cross-Border Payments

 

Global fintech firm Unlimit has announced a new partnership with DEUNA, a platform to streamline and enhance commerce. This collaboration aims to improve cross-border payment processes for enterprises in Latin America (LATAM) and beyond.

Digital Payments Surge

A 2023 report from Mexico’s Fintech Association and NTT Data indicates that digital payments account for 32% of the local fintech market, with the number of companies in this sector growing by around 17.4% annually.

The digital payments market is expected to see its total transaction value rise to $115.20 billion by 2024, and it is projected to grow at a compound annual growth rate of 9.84%, reaching $167 billion by 2028. Furthermore, a recent study by the Mexican Association of Online Sales found that Mexico leads globally in eCommerce growth, with the market reaching a value of 658 billion MXN in 2023.

Ignacio J. Morales, Head of Unlimit Mexico, commented: “Our partnership is an important next step in our mission to eliminate payment-related borders for companies ready to embark on their global expansion. We believe that fostering strong bonds in our industry is the key to redesigning B2B payments as we know them and we are glad to join forces with such a strong player like Deuna.”

Focusing on Payment Solutions to Support Business

Within this landscape, the alliance between Unlimit and DEUNA aims to offer enterprise-level companies access to advanced, secure payment systems. This partnership seeks to enhance approval rates, decrease costs, and reduce fraud risks by integrating DEUNA’s payment orchestration capabilities with Unlimit’s payment infrastructure and wide range of payment methods.

“This strategic partnership is set to enhance approval rates, reduce costs, and minimize fraud risks, all of which are crucial for accelerating global and regional expansion. Together, we are committed to empowering merchants and boosting their sales potential in these dynamic markets,” commented José María Serrano, Co-Founder and CRO of DEUNA.

Source: financemagnates.com

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