TransferMate, a cross-border B2B payment technology solution, announced on Tuesday its first two payments licenses in South America with approvals in Brazil and Chile. The latest expansion comes just a few months after TransferMate received its payments license in Mexico.
Founded in 2008, TransferMate is a global B2B payment technology firm, enabling companies to send and receive cross-border payments. The company has built one of the largest portfolios of payment licenses worldwide, including in 51 US states and territories, to support trading in 162 countries and 134 currencies. TransferMate reported it is now registered as an International Payment Facilitator with the Central Bank of Brazil (BACEN) and the Council for Financial Activities (COAF) in Brazil. In Chile, TransferMate is a registered Payment Intermediary with Unidad de Análisis Financiero (UAF). Speaking about the expansion, Sinead Fitzmaurice, CEO of TransferMate, stated:
“With these licences, TransferMate is one step closer to its strategic plan to create the widest settlement network in our industry. We are excited to now hold two payments licences in South America and bring our technology infrastructure to more customers, providing them with transfers at a higher speed, lower cost, and with better reconciliation.”
TransferMate then added:
“With a portfolio of payment licences spanning the U.S, Canada, Mexico, Europe, U.K., Asia, Australia, and now South America, TransferMate’s regulated global payment technology cuts out the chain of intermediate handlers associated with traditional bank payment routes, thereby solving complex payment challenges for companies.”