CAB Payments has expanded into the European Economic Area (EEA) and has secured a payment service provider licence with De Nederlandsche Bank (DNB) to provide services in the Netherlands and the ability to exercise passporting rights to offer its services across the EEA.
From its base in the Netherlands, CAB Payments Europe will provide access to a global pool of G10 and hard-to-reach market currencies along with wholesale FX and cross-border payments, and last-mile delivery services.
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CAB Payments Europe benefits from CAB Payments’ access to an established global payments network, scalable, purpose-built technology platform and longstanding relationships, to ensure organisations can move money to and from hard-to-reach markets quickly, efficiently and securely.
CAB Payments Europe has established its European headquarters in Amsterdam
The company plans to draw from the talent pool in the Netherlands. The Netherlands was selected due to the market opportunity and strong client base within the region, as well as its high regulatory standards that are aligned with wider European regulations. Additionally, the Netherlands provides a combination of strong financial infrastructure, an established fintech ecosystem, global connectivity, and a vibrant international development sector that made it an attractive destination for CAB Payments to expand its operations in the EEA.
Kostas Konstantis, General Manager at CAB Payments Europe, said: “FX and payments to and from hard-to-reach markets are often expensive, slow, and opaque. Cross-border transactions can be subject to significant fees and FX margins. For EEA organisations, especially governments and NGOs looking to transparently disburse aid during humanitarian crises, these challenges exacerbate global inequality, stunts international trade, and limits growth.
CAB Payments Europe aims to solve this problem across the EEA. Our network, tech, and expertise means we can move money quickly, cost effectively, and transparently in complex situations, to complicated markets, for leading global organisations that uphold the highest standards.”
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