Payments platform Paysafe and Forex broker International Capital Markets Pty Ltd. (IC Markets) have announced an extension of their existing collaboration into Latin America.
The two companies started working together in 2018 to make it easier for IC Markets’ European traders to pay. IC Markets connected with Paysafe’s payment system so that traders could choose from many different ways to pay, including digital wallets and local payment methods.
As per the new agreement, IC Markets’ traders in Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama, and Peru will now be able to use Paysafe’s various payment options to deposit funds into their forex trading accounts. These options include digital wallets like Skrill and NETELLER, as well as other local payment methods like instant bank transfers.
Latin America is becoming more popular for economic investment because more people are living there, using smartphones, and using digital services. This has created a strong demand for financial services and new ways to pay for things. The retail forex trading market is especially important in this region, and Paysafe’s knowledge of the rules and regulations in Latin America helped them become part of it.
Chief Revenue Officer at Paysafe, Robert Gatto, said:
We’re delighted to be expanding our multi-year partnership with IC Markets and facilitating their move into Latin America where we can offer our entire suite of products, including some of the most popular forms of local payments such as bank transfers. The region is growing rapidly, and we look forward to seeing IC Markets thrive there.
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