Paysafe and IC Markets to expand partnership into LATAM

The two companies initially started their collaboration in 2018, when IC Markets integrated Paysafe’s payments API in a strategic move to provide its European traders with access to more payment methods, including digital wallets, and local payment methods.

Following this latest expansion of their partnership, IC Markets’ traders from LATAM countries such as Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama, and Peru are expected to also gain access to Paysafe’s portfolio of payment offerings. Consequently, they will be able to fund their Forex trading accounts and use digital wallets like Skrill and NETELLER, or other local payment methods, including real-time transfers.

The news of the expansion of this partnership to facilitate payments in LATAM comes at a strategic point for the region. As outlined in the official release, LATAM has been attracting economic interest in light of its growing population, the rise of smartphone adoption, as well as the high rate of digitalisation. The adoption of new payment options comes as a result of consumer demand, as more and more people show interest in new financial services and alternative payment methods.

According to experts, LATAM is an area that has generally shown interest in digital goods and services, as consumers in the region are prone to embrace novel shopping experiences, digital banks, as well as services that bring convenience to their lives by allowing them to expedite tasks.

What is more, LATAM is also of importance for the retail forex trading market. Given this factor, Paysafe’s expertise regarding compliance and local regulation has played an important role in the expansion of the joint venture.

What do IC Markets and Paysafe bring to the table?

IC Markets is a foreign exchange that extends proprietary tools, Forex technology, and services for its clients. The company is reportedly regulated by the Australian Securities and Investments Commission in Australia.