Earthport, the cross-border payments service provider, has announced the launch of two payment routes into Mexico and Colombia to broaden its footprint in the Latin American region. The new routes will enable clients to offer payments into these markets, while allowing them to benefit from greater transparency and overall improve customer experience.
At USD22bn worth of remittance payments a year, Mexico is one of the largest remittance market in the world, the addition of this route enables Earthport to serve three of the top four global remittance destinations. Also, Colombia is the fourth largest remittance destination in Latin America.
“The addition of Mexico and Colombia will further cement our position as the specialist white-label service for low value payments with a global footprint in all continents.” said Paul Thomas, executive director at Earthport.
“In addition to leveraging our local clearing capabilities in more than 50 countries, clients will benefit from a payments service that achieves the transparency required under Dodd-Frank 1073. Our service enables our clients to provide advance disclosure of the principal amount and settlement dates of cross-border transfers, resulting in improved transparency and predictability as well as enhanced customer experience.” he later added.
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