Unlimit and UnionPay International form global issuing partnership

By Gloria Methri

Global FinTech Unlimit has announced an issuing partnership with UnionPay International (UPI), 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, while UPI boasts the world’s largest cardholder base. By aligning Unlimit’s BaaS platform with UnionPay’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 collaboration, 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. 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 are 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.”

Shengliang Yang, Co-head of the European market at UnionPay International, said, “UnionPay as a global brand has set its mission of localisation to expand its customer base in the European region. By establishing the strategic partnership with Unlimit, we can integrate our strong service capability through Unlimit’s comprehensive local network to serve our cardholders in Europe better.”