Unlimit, the global fintech company, has announced its partnership with Pagaloop, a Latin American B2B payments and cash flow management platform.
The partnership will aim to focus on strengthening the Pagaloop app’s credit and debit card processing capabilities and ensuring high approval rates to facilitate the company’s continued business expansion in the region.
Pagaloop’s solution helps firms and individuals to streamline expenses by enabling them to pay with credit cards in more places, more easily.
Pagaloop uses a single interface to enable businesses and individuals to use credit cards to pay third-party providers, subcontractors, service providers, or fixed payments like payroll, rent,.
The user benefits by having the amount charged to their credit card bill, with the option to pay in “installments rather than as a single lump sum.”
The solution is suitable for SMBs.
Smaller firms tend to struggle to acquire loans from traditional banking institutions and could stand to benefit from improved access to credit and financial flexibility to pay suppliers.
The partnership enables Pagaloop to leverage Unlimit’s acquiring network and to support payments via card schemes, including Visa and Mastercard. This will provide Mexican SMBs with “instant cash flow” support.
Martina Selser, Head of Account Management at Unlimit Mexico said that tey are eager to support Pagaloop in their goal to simplify expense management for small and medium-sized businesses in Mexico.
Selser added that they are certain that, together, they 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.”
According to data from INEGI, Mexican SMEs are the engine of the Mexican economy, generating “52% of revenue and employing 27 million people.”
This is said to represent a significant “68.4% of those working in the business sector.”
Bt high interest rates are a barrier to growth, preventing “85% of SMEs” from accessing credit according to a study by Clara.
Unlimit and Pagaloop believe their partnership will help to solve this, empowering SMBs with an alternative way of securing “flexible credit as they continue to grow and power the Mexican economy.”
Gerardo Briones, Co-founder and CEO of Pagaloop said that at the firm, they are always looking for innovative ways “to empower Mexican SMBs with better financial solutions.”
Briones added that this partnership with Unlimit allows them to expand their offerings and streamline the payment process,” making it easier for businesses to manage cash flow and support their growth.”
They believe this collaboration will address “a critical gap in the market, providing SMBs with the flexibility and financial support they need to thrive,”