Mexico’s e-commerce sector is thriving and looking to ensure this success continues, Yuno, the payments orchestration platform has partnered with BBVA Group‘s digital payments company, Openpay to simplify the online transaction process.
In Mexico, the current number of e-commerce users is 67.9 million, however, this figure is set to increase by 55 per cent by 2027 according to Statista. Additionally, the total transaction value in the Mexican digital payments market alone is projected to reach $115.2billion in 2024, with a forecast annual growth rate of 9.84 per cent. In light of this, the new partnership between Yuno and Openpay will create further synergies in the local payments ecosystem, streamlining digital payments.
Catherine Kaupert, head of partnerships at Yuno
Catherine Kaupert, head of partnerships at Yuno, commented: “This partnership marks another step in our mission to democratize the payments industry by making it easier for all players – from SMEs to large multinationals – to optimise their digital transactions, reach new customers and boost online sales while saving time and cutting costs.
“We look forward to working together with Openpay to further innovate and create a more streamlined industry that benefits all.”
Why Yuno?
Marcelo Campos, chief growth officer at Openpay by BBVA
Marcelo Campos, chief growth officer at Openpay by BBVA, added: “We celebrate the launch of our strategic collaboration with Yuno, as a result of our Alliances and Partnerships programme.
“Yuno is one of the most relevant players in the sector with whom we share our objective of strengthening financial inclusion in Mexico, and we are also aligned in our philosophy of being customer-centric. We are confident that by working together we will be able to support a greater number of businesses with the most reliable payment solution and with the backing of BBVA, one of the most important financial institutions in the region.”
Yuno’s platform enables companies to access more than 300 payment methods worldwide, as well as integrate innovative features such as one-click checkout, smart routing and anti-fraud tools through a single, easy-to-use interface, while Openpay simplifies online sales for merchants by enabling them to accept payments by card, bank transfer, cash or loyalty points via a single integration.
Yuno helps make digital payments seamless and efficient for customers including McDonald’s, inDrive, Avianca, Rappi, and many others across 60 countries in Latin America and around the world. The payment orchestration platform has recently raised $25million in a Series A round by DST Global Partners, Andreessen Horowitz, Tiger Global, Kaszek Ventures and Monashees.
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