CoDi - the official Mexican online payment platform created by the Bank of Mexico - has announced that it is expanding into Europe through a partnership with Unlimint, a London-based fintech payments platform.
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The partnership allows Unlimint to expand its portfolio of alternative payment methods with the addition of CoDi and encourages European companies to expand their operations in Mexico.
With this new integration, Unlimint customers will receive a new, fast and secure payment method when making transactions using wire transfers, and businesses in Europe using CoDi technology, and also the European Unlimit customers will be able to expand into the Mexican market more easily.
At the same time, Mexican buyers will now be able to pay in Europe for online goods using a native solution.
CoDi uses QR Code technology, free two-dimensional barcodes that are easy to implement on any mobile device, while Unlimint offers advanced payment capabilities through a financial interface focused on serving businesses around the world as it operates on 5 continents.
"We are delighted to be able to offer a new alternative payment method to businesses in Mexico. As consumers become more aware of online payment methods, it is important for merchants to facilitate secure cashless transactions. Adding CoDi to our portfolio demonstrates that Unlimint is committed to enabling customers to grow anywhere in the world and incorporate popular local electronic payment methods into their operations to remain competitive," said Irene Skrynova, chief customer officer at Unlimint.
In 2018, Banco de México (Banxico) launched its CoDi payment platform with the aim of enabling more users in the country to make transactions through their cell phone. After more than a year of its launch, in 2021 the platform made close to 287,000 online money transfers which represents a total of 146 million Mexican pesos.
