Payments and foreign exchange firm moneycorp Americas has forayed into Canada to serve private and corporate customers.
The move is aligned with the company’s global expansion plans.
Go deeper with GlobalData
moneycorp Americas entered Canada after operating in the US for more than two decades offering private clients’ money transfer, corporate risk management and payment services.
moneycorp Americas CEO Bob Dowd said: “Getting our operations and infrastructure established and fully compliant to serve the specific Canadian market requirements is a significant milestone for our company.
“Today, we are making a significant investment to build this market and with highly differentiated offerings providing both private and business clients the opportunity to choose a long-standing industry expert as their payments and FX currency partner.
“In today’s challenging economic environment, I am pleased to continue our expansion into a prime market that aligns with our strategic growth plans.”
In Canada, the company aims to work with private clients who plan to buy real estate in the US and abroad.
The scope of services will also include offering risk management hedging solutions to corporate clients and helping businesses to reduce foreign exchange exposure.
Recently, the parent company UK-based Moneycorp Group secured e-money licence in Ireland. The group gained e-money and MiFID licences from the Central Bank of Ireland (CBI) awarded the group for a newly established Irish company Moneycorp Technologies (MTL).
