We hold local acquiring licenses in regions of presence. We are directly integrated with more than 1000 payment methods worldwide. This is thanks to the fact that after more than 13 years on the market, our team has managed to build the largest in-house developed payment infrastructure in the world. We are able to provide merchants with strong, efficient payment rails. We help local businesses thrive both locally and internationally. Unlimint’s essential goal is to remove existing borders and limitations and deliver a seamless payments experience. What is Unliminit Mexico doing to help improve the payment sector in the country and region? Among cash payments via voucher, Oxxo Pay and 7 Eleven are the ones that merchants need to include in their portfolio if they want to attend to different needs, avoid cart abandonment and ensure sales conversion rates. On the other hand, 27 per cent of Mexicans still use cash-based payment methods in e-commerce, according to data from INEGI. In other words, there is a market to be conquered. Especially considering the country has between 77 and 88 million active smartphones in 2021 as reported by to Hootsuit, but still less than 40 million Mexicans with a bank account according to Digital 2021 Global Overview Report. However, there is great potential for them to become increasingly popular payment methods. I believe that SPEI has the opportunity to get more market share considering its potential and convenience.ĬoDi and SPEI have not yet gotten the preference of all Mexicans. This year, SPEI usage has increased by 56 per cent in August in comparison with last year and by 200 per cent compared to the previous year, reaching more than 240 million transfers in one month. 12.6 million people are using CoDi from their cell phones, only 10 per cent of the Mexican population according to Banco de México.Īnother payment method that is getting traction is SPEI, a 24/7 solution to make transactions with a real-time payment confirmation. Despite this, for now, CoDi adoption is still very low. This is in addition to a high level of security, as it does not allow chargebacks. CoDi and beyondĬoDi stands out among other methods due to not having cost per se for the merchant. One popular example of such new methods is CoDi, a 24-hour instant funds transfer platform created by Banco de México, which works through QR Code scanning. Mexicans are also adopting other digital payment methods such as digital wallets and mobile electronic transfers. It is also the most used and preferred method for 27 per cent of people according to Instituto Nacional de Estadística y Geografía (INEGI).īut this scenario is changing. Debit card payments continue to be the most popular payment method for online purchases for 58 per cent of Mexicans. Therefore, the way consumers make payments is changing. How do payment trends compare to the rest of the region/world?įor the past few years, Mexicans have been buying more online. We want to help them achieve their goals by leveraging our solutions and payments portfolio. Our solutions are purpose-built and answer the needs of retailers and merchants worldwide, who are looking for a secure, scalable, efficient, and cost-effective solution that can be seamlessly integrated into their business.Īs head of Unlimint Mexico, I am responsible for managing the company’s activities in the region and assisting Mexican innovators and international companies that want to disrupt the Mexican market. From acquiring (payment processing) and banking as a service to a web3 onboarding tool that helps users move value seamlessly between their bank accounts and their self-custody wallets, to access DeFi, GameFi, and NFTs. Unlimint is a global fintech company that offers a large portfolio of financial services.
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