Updated: Apr 4, 2022
The days when a long wait time to transact cross-border payment was acceptable are gone, but North American fintech Passfolio ran into problems related to this factor, and others, in mid-2019.
Read more about this story and learn how to implement related solutions in your payments business.
How did Passfolio scaled and reached the Latin American market?
The company that has already expanded the US market to more than 170 countries around the world faced difficulties when deciding to spread its solutions for stocks and investments in the Latin American market.
At the time in question, the company was already dealing with traditional Latin American banks but found ways to streamline processes while dealing with all the local bureaucracy that each country presented. Coupled with these factors, there was one more performance: such as high fees applied for transactions, disadvantages at all ends.
Upon learning about the FacilitaPay API solution, these problems were, one by one, dissolving. Results began to progress exponentially in Brazil and Mexico, and issues related to time, legislation and fees were quickly resolved in a resolute manner.
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The Integration of FacilitaPay turns possible to make payments and convert money quickly (di), paying competitive rates. The company still has legal and compliance expertise to ensure that its customers meet the local regulatory standards of the countries in which they handle all operations.
Is your fintech ready to invest in the expanding Latin American market?