- Transact365, which is based in the UK, has confirmed that it will expand its services into the Latin America region as part of a new push to improve cross-border payments services.
- The move comes after Transact365 moved into the Indian market earlier in February – and now it plans to boost its Latin American banking coverage levels.
- “Our launch in Latin America comes at a pivotal time for us at Transact365 – in less than five years since being founded, we are now one of the largest alternative payments platforms in LATAM,” said a senior spokesperson for the company.
Transact365, a UK-based provider of financial technology services and cross-border payments, has announced that it will be moving into the Latin American market.
Transact365, which was set up in 2017, said that the move will give merchants in the region the chance to experience business-to-business and business-to-consumer payments in real time.
The system has also been designed to reduce the risk of both chargebacks and fraud, the company said.
It follows the company expanding in India earlier this month – another major global market.
The company is known for its large footprint – which includes almost 400 banks in its network.
In a statement, a senior figure at Transact365 said that the move matched the company’s wider ethos.
Dan Fernandez, who is the chief executive officer, said that the firm was “proud” about what it was now able to do.
“Our ethos as a business has always been ‘Think Local, Go Global’, and we are proud to be able to bring our platform to merchants across LATAM to help facilitate their growth,” he explained.
He went on to say that this had all happened in under five years since the firm’s foundation.
“Our launch in Latin America comes at a pivotal time for us at Transact365 – in less than five years since being founded, we are now one of the largest alternative payments platforms in LATAM,” he said.
He also struck a positive note about what was likely to come in the following year for the company.
“2022 will be a year of expansion and growth for Transact365,” he said.
He highlighted the company’s recent launch in India as an example of what might happen for the company next.
“Having recently launched in India, and more jurisdictions on the horizon, our mission is to become one of the world’s leading payment service providers with access to markets demonstrating the greatest opportunities for merchants,” he explained.
“We look forward to seeing what more we can achieve this year.”
It is believed that the firm intends to boost its regional presence in terms of Latin American banks over the rest of the year.
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