TransferMate Expands North American Regulation with Mexico Licence Approval

TransferMate Expands North American Regulation with Mexico Licence Approval
03.09.2020 03:20 pm

TransferMate Expands North American Regulation with Mexico Licence Approval


TransferMate, one of the world’s leading cross-border B2B technology payments providers, has today announced a significant boost to its international footprint, securing a new payments licence in Mexico. This authorisation as a money transmitter by Mexico’s National Banking and Securities Commission marks a major milestone on the company’s global growth journey and strategic plan to provide its customers with one of the widest regulated settlement networks in the industry. 

To ensure best-in-class payments service, TransferMate will open and staff an office in Mexico City. Customers in Mexico will now be able to use TransferMate’s leading payments technology to make and receive single or mass international transfers same day/next day with full tracking and zero wire fees. With a portfolio of payment licences spanning 51 U.S. states/territories, Canada, Europe, U.K., Asia, Australia and now Mexico, 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.

Sinead Fitzmaurice, CEO of TransferMate – a Taxback Group company, said: "At TransferMate, we aim to deliver the most efficient payments process possible for our customers. 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 endto-end control over the corridor, resulting in lower cost, higher speed and greater reconcilement benefits for our customers."

This news follows a successful 2019 for TransferMate, when the company gained regulatory approval in six zones, including Hong Kong, Singapore and Dubai.

Related News

MYPINPAD Partners with EVO Payments for VISA Tap to Phone Technology

MYPINPADthe global leader in secure personal authentication... Read more »

Flywire and Mastercard Team Up to Simplify Cross-Border Tuition Payments

Flywire, a vertical payments company, is partnering with Mastercard to provide students with... Read more »

OBE, Moneyhub and Streeva Launch World's First QR Code-Based Open Banking Payments with Automated Gift Aid for Charities

Open Banking Excellence (OBE), the world’s leading community of Open Banking and Open Finance pioneers, has joined forces with Moneyhub Enterprise... Read more »

Increased Contactless Spending Could Be Linked to Higher Fraud and Payment Disputes, Warns Global Risk Expert

Monica Eaton-Cardone, COO and Co-Founder of merchant dispute specialist, Chargebacks911, and its revolutionary new financial institution brand, Fi911, warns of... Read more »

Latin America's Newest Unicorn dLocal Achieves $1.2B Valuation After Securing New $200M Investment

dLocal, a leading cross-border payment platform connecting global merchants to emerging markets, today announced up to $200 million in new investment, led by... Read more »

Mastercard and Handpoint Partner to Promote Card Payment Solutions Amongst European SMEs

Mastercard and Handpoint, an in-person payments platform provider, have... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel