- Moneycorp Americas, which offers risk management functionality as well as cross-border payments services, has confirmed that it will take its presence into other countries across the globe.
- It will offer new payment rails in a number of key payment regions around the world, including Latin America and the Asia-Pacific region, it said in remarks to the press.
- “In addition to access, hurdles have traditionally included cost, speed, security and transparency – all of which we aim to address with our tech-enabled, digitally-forward solutions,” said a senior figure at the firm.
Moneycorp Americas, a provider of global cross-border payments services and risk management functionality, has announced that it will expand its alternative payment rails offer to more countries.
Moneycorp Americas will make the move into a variety of important regions for the online money transfer sector, including the Asia-Pacific region, Latin America and elsewhere.
The new arrangement will see customers in the countries being able to receive their cash within one hour.
The new system will be based on application programming interfaces (APIs).
It is understood that the new arrangement will see correspondent bank fees wiped out, while the speed with which cash transfers take place will be vastly increased.
This is in part because the APIs sit away from the SWIFT system, which is a financial messaging system used by many payment providers across the globe.
In a statement, a senior figure at Moneycorp Americas said that the company recognised that getting into “hard-to-reach” territories was something that the industry had found hard.
Bob Dowd, who is the firm’s chief executive officer, explained that access was not the only challenge in this regard.
“Hard-to-reach jurisdictions have long been one of the sector’s unique challenges,” he said.
“In addition to access, hurdles have traditionally included cost, speed, security and transparency – all of which we aim to address with our tech-enabled, digitally-forward solutions.”
He went on to say that the company’s clients were keen to cut the amount of delay time they experienced.
“For our partners, the ability to provide these solutions to their customers is particularly important as it eliminates lifting charges, reduces delays, and ultimately provides our partner’s customers a better service experience,” he said.
The chief executive officer of Worksuite, one of Moneycorp’s clients, said that his firm was now able to offer top payment experiences to customers.
Joey Frasier made the remarks in a statement to the press.
“These expanded payment capabilities offered by Moneycorp allow us to give our customers the ultimate cross-border payment experience,” he explained.
“By eliminating some of these long-standing pain points of the past our customers are assured that they’re receiving their full payments on time, every time.”
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