News

Unlimit and Pagaloop partner to simplify expenses for SMBs in Mexico

Thursday 14 November 2024 14:52 CET | News

Unlimit has partnered with Pagaloop to focus on strengthening the latter's app credit and debit card processing capabilities and ensuring high approval rates to facilitate continued expansion in the region. 

 

According to the press release, Pagaloop’s platform is designed to help businesses and individuals manage expenses more easily, allowing them to make credit card payments in more locations—even where cards are not typically accepted. Through a simple, unified interface, Pagaloop enables users to use credit cards for various payments, such as to third-party providers, contractors, service vendors, or for recurring expenses like rent and payroll. This process allows users to charge expenses directly to their credit card and pay in installments instead of one lump sum, providing an ideal solution SMBs that often face difficulties securing bank loans and need more flexible financing options to manage supplier payments. 

 

Unlimit has partnered with Pagaloop to focus on strengthening the latter's app credit and debit card processing capabilities and ensuring high approval rates to facilitate continued expansion in the region.

 

Furthermore, the partnership will enable Pagaloop to leverage Unlimit’s acquiring network and support payments from all major card providers, including Visa and Mastercard. This will provide Mexican SMBs with immediate cash flow support, empowering them to focus on growth. 

According to 2023 data from INEGI, Mexican SMBs are critical to the nation’s economy, generating 52% of total revenue and employing 27 million people—68.4% of the business sector’s workforce. However, high interest rates restrict access to credit for 85% of SMBs, as noted in a 2023 study by Clara. Unlimit and Pagaloop are optimistic that their partnership will provide SMBs with a flexible credit solution, enabling them to grow and continue driving Mexico’s economy. 

About Unlimit 

Unlimit is a global fintech that offers a large portfolio of financial services, including payment processing, BaaS, business accounts and an onramp fiat solution for crypto, DeFi, and GameFi. The company’s mission is to deliver solutions that eliminate financial borders, enabling businesses to operate both locally and internationally with ease across Europe, the UK, LATAM, APAC, India, and Africa.  

About Pagaloop 

Pagaloop is a payments and cash flow management platform designed to serve small and medium-sized businesses across Latin America. Pagaloop offers a streamlined solution for businesses to manage their expenses, facilitating payments to suppliers and other service providers using credit cards, even in cases where traditional card acceptance is unavailable. Backed by investors including Y Combinator, Nazca VC, and Vast Ventures, Pagaloop aims to help SMBs improve cash flow and extend their working capital, ultimately driving growth and economic stability within the region. 

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: spend management, SMEs, payments , credit card, instalment payments, partnership
Categories: Banking & Fintech
Companies: Unlimit
Countries: Mexico
This article is part of category

Banking & Fintech

Unlimit

|
Discover all the Company news on Unlimit and other articles related to Unlimit in The Paypers News, Reports, and insights on the payments and fintech industry:





Industry Events