UniTeller's Expansion Plans: CEO Alberto Guerra Discusses Global Growth and Future Prospects
UniTeller Expands Global Reach with Acquisition of More Payment Evolution
UniTeller, a Latin America-focused company, has made a strategic move to bolster its cross-border payment capabilities with the acquisition of More Payment Evolution. The deal, scheduled to close in Q3 2025, subject to regulatory approval, is a key development in UniTeller's wider strategy and plans for global expansion.
This acquisition has enabled UniTeller to serve more than 120 countries, a significant increase from its previous reach of 84 countries in 2023. The expanded geographical reach now includes markets across Europe and Africa, in addition to its existing presence in Latin America.
Alberto Guerra, CEO of UniTeller, shared insights about the acquisition and the company's future strategies. He stated, "The acquisition of More Payment Evolution is designed to broaden our corridor mix, allowing us to offer faster, more seamless, and possibly more cost-effective cross-border payment solutions."
The acquisition has also contributed to a growth in UniTeller's send volume, which has increased from $14bn to $17bn. This growth is expected to influence trends in cross-border payments for UniTeller.
Banorte, UniTeller's parent company, mentioned the acquisition in its latest earnings, citing it as a key driver of an uplift in income from fees in Q3 2024. The company plans to leverage the acquisition to enhance its B2B solutions and B2B2X-focused network business.
UniTeller is aiming to expand its consumer digital capabilities through the acquisition of More Payment Evolution. The acquisition has provided the company with access to new markets in Europe and Africa, opening up opportunities for business payments and further growth.
The strategic move aims to build a more comprehensive global payments platform, positioning UniTeller to capitalize on innovations in cross-border fintech services. This acquisition is a significant step towards UniTeller's goal of simplifying international transactions and becoming a leading player in the rapidly evolving fintech payments space.
[1] Source: UniTeller Press Release, August 2024.
- UniTeller's acquisition of More Payment Evolution will allow it to offer innovative technology in cross-border payments, contributing to a growth in its business volume.
- The strategic acquistion by UniTeller of More Payment Evolution is part of its goal to create a comprehensive global payments platform, leveraging advancements in technology to simplify international transactions in the bustling realm of finance.
