TransferMate, a cross-border B2B payments technology solution, announced on Thursday it scored a significant boost to its international footprint, securing a new payments license in Mexico. According to TransferMate, the license marks a major milestone on the platform’s global growth journey.
Founded in 2008, TransferMate is a global B2B payments technology firm, enabling companies to send and receive cross-border payments. The company has built one of the largest portfolios of payment licences worldwide, including in 51 US states and territories, to support trading in 162 countries and 134 currencies.
TransferMate further explained it will open and staff an office in Mexico City. Customers in Mexico will now be able to use TransferMate’s payments technology to make and receive single or mass international transfers same day/next day with full tracking and zero wire fees. Speaking about the milestone, Sinead Fitzmaurice, CEO of TransferMate, stated:
“This move is another major progression in our strategic mission to provide customers and partners with a regulated payments technology infrastructure that is not only able to bypass interbank rails but also ensures end-to-end control over the corridor, resulting in lower cost, higher speed and greater reconcilement benefits for our customers.”
TransferMate then added that the new license comes after it gained regulatory approval in six zones, including Hong Kong, Singapore, and Dubai.