Unlimint offers acquiring services in Mexico

By Robin Amlot

Unlimint (formerly Cardpay) has launched local acquiring services in Mexico offering merchants in the country access to a raft of 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.

This allows Unlimint to cover 95% of local payment methods in Mexico, 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.

Unlimint’s instalment option provides a service crucial to the success of merchants in the country, as this is consumers’ preferred payment method – 60% of e-commerce purchases in Latin America are currently paid for using an instalment plan. The support of regionally dominant local cards, on the other hand, in comparison to international cards, can increase approval ratio and minimise fees.

“Our localized 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,” said Kirill Evstratov, CEO of Unlimint.  “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.”

Andrey Novikov, LATAM Regional Lead at Unlimint, said: “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’.”