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 (CAGR) of 9.84%, reaching $167 billion by
2028. Furthermore, a recent study by the Mexican Association of Online Sales
(AMVO) found that Mexico leads globally in eCommerce growth, with the market
reaching a value of 658 billion MXN in 2023.
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 article was written by Tareq Sikder at www.financemagnates.com.
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