Yuno, the leading global payments orchestration platform, today announces a strategic partnership with Openpay, BBVA Group’s digital payments company, making it easier for companies of all sizes to conduct online transactions seamlessly and benefit from the country’s e-commerce boom.
The partnership will create further synergies in the local payments ecosystem to streamline digital payments and help drive e-commerce to new heights in Mexico. The country is already home to one of the fastest-growing e-commerce sectors in the world counting more than 67.9 million e-commerce users, according to Statista - a figure forecast to grow by more than 55 percent by 2027.
Total transaction value in the Mexican Digital Payments market alone is projected to reach US$115.2bn in 2024, with a forecast annual growth rate of 9.84%.
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.
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 optimize 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.”
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 $25 million in a Series A round by DST Global Partners, Andreessen Horowitz, Tiger Global, Kaszek Ventures and Monashees.
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 program. 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.”