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.”
About Yuno
Yuno has emerged as a dominant force in global payment orchestration, with a core mission to empower global commerce by enabling businesses of all sizes to accept and disburse payments anywhere in the world, fostering financial inclusion.
Yuno enables businesses to access over 300 payment methods worldwide as well as innovative features including one-click checkout, AI-enabled smart routing, and robust anti-fraud tools via a single unified, easy-to-use interface. Yuno serves a global customer base that includes McDonald’s, Avianca, inDrive, Rappi and other renowned brands across 60 countries.
Discover more about Yuno at http://www.y.uno.
About Openpay
Openpay is the platform for the reception and sending of electronic payments specialized in the development and commercialization of tools for accessible, secure and innovative commercial transactions. This Mexican company has been part of the BBVA Group since 2017 and has a presence in Mexico, Colombia, Peru and Argentina.
With Openpay, businesses of any size can accept multiple payment methods for their eCommerce, such as credit cards, debit cards, bank transfers, SPEI, CoDi and payment links, in addition to cash transactions through Paynet, the largest payment network in Mexico, made up of more than 30 thousand establishments connected in real time.
To guarantee transaction security, the company has developed OpenControl, an advanced neural system for fraud prevention, in addition to complying with processes and certifications such as 3D Secure, SafeKey and ISO 27001.