TransferMate expands international footprint with Mexico licence approval

By Pavithra R

Ireland based TransferMate, a global B2B payments technology firm, enabling companies to send and receive cross-border payments faster and more accessible has announced a significant boost to its international footprint, securing a new payments licence in Mexico.

The authorisation as a money transmitter by Mexico’s National Banking and Securities Commission marks a significant milestone for the FinTech in its global growth journey and strategic plan to provide its customers with regulated settlement networks.

With the expansion, customers in Mexico can leverage TransferMate’s payments technology to make and receive single or mass international transfers the same day/next day with full tracking and zero wire fees.

“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 end-to-end control over the corridor, resulting in lower cost, higher speed and greater reconcilement benefits for our customers,” said Sinead Fitzmaurice, CEO of TransferMate, a Taxback Group company.

Established since 2008, TransferMate, a Taxback Group company, offers an end-to-end international payments solution. With a portfolio of payment licences spanning 51 U.S. states/territories, U.K., Asia, Canada, Europe, Australia and Mexico, TransferMate’s regulated global payment technology eliminates the chain of intermediate handlers associated with traditional bank payment routes, thereby solving complex payment challenges for companies.