Unlimit & Pagaloop simplify expense management for Mexican SMBs

By Gloria Mathias

Unlimit, the global FinTech company, has announced its partnership with Pagaloop, a Latin American B2B payments and cashflow management platform.

The partnership will focus on strengthening the Pagaloop app’s credit and debit card processing capabilities and ensuring high approval rates to facilitate the company’s continued expansion in the region.

Pagaloop’s solution helps businesses and individuals streamline their expenses by enabling them to pay with credit cards in more places more easily. The solution is ideal for small and medium-sized enterprises (SMBs), which often struggle to obtain loans from traditional banks. SMBs would greatly benefit from better access to credit and increased financial flexibility to pay their various suppliers, many of which do not accept card payments.

The partnership enables Pagaloop to leverage Unlimit’s extensive acquiring network and support payments through all major card schemes, including Visa and Mastercard. This will provide Mexican SMBs with instant cash flow support, allowing them to focus on their growth.

“We are excited to support Pagaloop in their goal to simplify expense management for small and medium-sized businesses in Mexico and beyond. We are certain that, together, we will be able to deliver a level of service to end customers that answers their needs and supports their businesses’ growth while also removing existing barriers in their payment journeys,” said Martina Selser, Head of Account Management at Unlimit Mexico.

According to 2023 data from INEGI, Mexican SMEs are the engine of the Mexican economy, generating 52% of revenue and employing 27 million people. This represents 68.4% of those working in the business sector. However, high interest rates are a significant barrier to growth, preventing 85% of SMEs from accessing credit, according to a 2023 study by Clara.

“At Pagaloop, we are always looking for innovative ways to empower Mexican SMBs with better financial solutions. This partnership with Unlimit allows us to expand our offerings and streamline the payment process, making it easier for businesses to manage cash flow and support their growth. We believe this collaboration will address a critical gap in the market, providing SMBs with the flexibility and financial support they need to thrive,” said Gerardo Briones, Co-founder and CEO of Pagaloop.