StoneX Group and Bamboo Payment Systems say they are planning a leading solution for global merchants and financial institutions that need to collect and make payments in Latin America.
StoneX Payments, a division of StoneX Group which, through its subsidiaries, operates a global financial services network, and Bamboo, a cross-border payments company that allows global merchants to accept and make payments in Latin America, say they have entered into a strategic partnership to expand cross-border payment offerings and coverage for global merchants.
With StoneX Payments’ broad foreign exchange (FX) capabilities and correspondent network and Bamboo’s extensive payment connections and platform, the partners in the deal say, clients should see benefits in terms of FX pricing, more reliable settlement, improved acceptance rates, and greater cash flow efficiency.
StoneX Payments provides payment services to financial institutions, corporations, and international development organisations in over 180 countries. Through its correspondent network of over 385 banks, StoneX offers settlement capabilities in over 140 currencies.
Bamboo brings expertise in the Latin American payment ecosystem, enabling global merchants to accept and make payments in the region.
With a proprietary payment platform connected to more than 600 local banks and financial institutions, Bamboo offers an end-to-end solution for pay-ins and payouts, bridging the gap between global merchants and local consumers and businesses.
The company says it enables payments in 11 countries in the region, supporting over 200 payment methods, and serves a growing network of more than 500 clients and partners.
