Transact365 has secured a FINTRAC MSB license in Canada to further expand its global payments solutions business powering merchants across the globe.
The UK-based global payments platform was founded in 2017 and has grown to the point of servicing over 800 merchants to access e-commerce opportunities in five continents through local payment processing solutions.
Transact365 offers a comprehensive range of payment solutions across the UK, Europe, Asian and African markets, and continues to build its payments network to link multiple territories and billions of potential customers through its centralized payment gateway.
“Better interoperability in the North American market”
Canada is undergoing a significant transformation towards digital payments and financial services and Transact365 is leveraging the momentum to expand in North America via a FINTRAC MSB license.
Sophie Flynn, Co-Founder and CFO at Transact365, said: “As a global facing fintech, we’re always looking for ways to further support merchants across the globe with payments. With so much demand for digital and alternative payments as well as better interoperability in the North American market, we’re thrilled to be able to provide further support and opportunity to any company working in or with the region.
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“Our mission continues to be guided by the principle: Think Local, Go Global. This core philosophy drives our commitment in delivering a global service for our merchants in a truly localized way. Through our on-the-ground consultative approach to partners, we develop niche, bespoke, and specialized solutions for our clients in an unparalleled way.”
Cornerstone FS also secured an MSB license from FINTRAC
In February, Cornerstone FS secured a Money Services Business (MSB) license from FINTRAC, the national regulatory authority, to operate in Canada.
This license enables Cornerstone FS to offer payment services to both businesses and individuals across Canada. The company is planning to establish a full-service office in the country, marking a significant step in its strategy to widen its geographical presence and enhance its regulatory capabilities.
Cornerstone FS offers a range of financial services designed to facilitate international payments and currency management for both businesses and individuals.
Their offerings include multicurrency accounts, international payment solutions, and bespoke solutions tailored to specific client needs. These services aim to simplify the complexities associated with international transactions, allowing clients to trade in over 37 key currencies and send funds to numerous countries globally.
Cornerstone FS leverages its proprietary technology platform to deliver these services, ensuring secure and efficient transaction processing. The company is recognized for its expertise in international payments and currency exchange, supported by a team of dedicated specialists who assist clients with their currency management and international payment requirements.
