ROME, Dec. 4, 2023 /PRNewswire/ -- Unlimit, the global fintech company, and UnionPay International (UPI), one of the world's largest payment services networks, have announced an issuing partnership where both companies will work together to accelerate the growth of Unlimit's Banking-as-a-Service (BaaS) platform.
Unlimit has one of the world's largest proprietary payment infrastructures, with over 1000 payment methods, and UPI boasts the world's largest cardholder base. By aligning Unlimit's BaaS platform with UPI's global reach, both companies expect that the partnership will make the platform more dynamic, comprehensive, and customisable, able to meet the evolving needs of a global customer base.
As part of the partnership, which will see Unlimit's BaaS API solution integrated with UPI cards, Unlimit will focus on ushering in new financial innovations and customer-centric solutions worldwide, including digital banking solutions, cross-border payments, gig economy platforms, and loyalty programs.
The agreement will now allow BaaS clients to add UPI cards as part of their digital offering, with a focus on customers who make frequent international transactions, while businesses struggling with the challenges posed by cross-border transactions will be able to leverage Unlimit BaaS through UPI's cards.
Commenting on the partnership, Jovi Overo, Unlimit Director, said:
"We're very excited to be joining forces with UnionPay, and we believe that through this partnership we can give our clients unrivaled financial freedom. By combining our proprietary payment infrastructure, one of the world's largest, with the world's leading cardholder network, we want to eliminate financial borders by providing our clients with the tools to build fintech solutions that really serve their customers, allowing them to transact globally wherever they are in the world."
Commenting on the partnership, Shengliang Yang, Co-head of European market, at UnionPay International, said:
"UnionPay as a global brand has set its mission of localisation to expand its customer base at European region. By establishing the strategic partnership with Unlimit, we are able to integrate our strong service capability through Unlimit's comprehensive local network to better serve our cardholders in Europe."
Founded in 2009, Unlimit is a global fintech company that offers a large portfolio of financial services, including payment processing and banking as a service (BaaS), among others. 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. Unlimit has 500 employees across 16 offices and five continents, including London, Frankfurt, Singapore, São Paulo, Hong Kong SAR, and Mexico. For further information, please visit: https://www.unlimit.com/
About UnionPay International:
UnionPay International focuses on the international business of UnionPay, a global payment network that serves the world's largest Cardholder base. Collaborating with over 2,500 partners globally, UnionPay acceptance now covers over 70 million merchants in 181 countries and regions. Outside Mainland China, UnionPay is accepted at over 38 million merchants and 1.76 million ATMs.