TransferMate secures back-to-back licence approvals in South America

KILKENNY, Ireland, Dec. 8, 2020 /PRNewswire/ -- TransferMate, one of the world's leading cross-border B2B technology payments providers, has today announced its first two payments licences in South America with approvals in Brazil and Chile. The news marks a major achievement in the company's strategic mission to provide customers and partners with one of the widest regulated payments networks in the industry.

TransferMate 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). TransferMate customers will be able to seamlessly pay into and receive money out of Brazil and Chile same day/next day with full tracking and zero wire fees. 

Sinead Fitzmaurice, CEO of TransferMate – a Clune Technology Group company, said: "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."  

The licence approvals in Brazil and Chile follow TransferMate's announcement in early September of a licence approval in Mexico. 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.

About TransferMate Global Payments

TransferMate—a subsidiary of Clune Technology Group founded by Terry Clune—is a global B2B payments technology firm, enabling companies to send and receive cross-border payments faster and easier. TransferMate has built one of the largest portfolios of payments licences worldwide, including in 51 US states and territories, to support trading in 162 countries. Leading banks, fintechs and software providers partner with TransferMate to offer an enhanced user experience for their business customers. The company has created bespoke integrations for banks like ING and AIB, who are also investors in the company, and Wells Fargo and software providers such as Coupa, SAP Concur, Tradeshift, Workday, etc. The TransferMate API solution allows partners to digitalise the payments flow within their software, enabling all businesses to achieving significant time and financial savings.

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