AFEX Partners With Chilean Payments Innovator Currencybird
Press release: CurrencyBird is the first South American partner to make use of AFEX Integrated Payment Solutions
Woodland Hills, California, August 20, 2019 – The AFEX Integrated Solutions API has been selected by Chilean electronic payments provider CurrencyBird to help expand its services. CurrencyBird’s innovative platform provides an efficient cross-border payments alternative to traditional banks for Chilean businesses and individuals. AFEX is a leading global payments specialist, providing cost-effective, efficient solutions through advanced API technology.
By partnering with AFEX, CurrencyBird will be able to accelerate the growth of its Chilean client base and expand more quickly. Access to AFEX’s global banking network and payments infrastructure expands the payments corridors CurrencyBird offers. CurrencyBird is the first South American MSB to scale their business using the AFEX API.
CurrencyBird launched in 2015 and currently serves more than 12,000 Chilean business and private clients. The company was selected as a portfolio company by Imagine Lab, Microsoft’s Santiago based incubator and business accelerator. CurrencyBird also won the support of the Chilean government’s CORFO initiative, which provides resources and financing for Chilean entrepreneurs and innovators.
AFEX provides a well-established global licensing and compliance framework which streamlines the client onboarding process, ensuring a frictionless user experience for CurrencyBird clients. Clients will be able to send and receive payments in a wide range of currencies and take advantage of the portfolio of global payments services AFEX provides as well.
Christian Spaltenstein, Managing Director, AFEX Americas, said, “This partnership is a win-win for AFEX and for CurrencyBird. We are proud to have CurrencyBird as our first strategic partner in South America. They are an innovator in the electronic payments space, and their team’s passion for innovation matches ours. We’re eager to explore additional strategic business channels outside of Chile with the CurrencyBird team. This is just the beginning.”
“Given the rapid growth and the strength of Chile’s economy, we knew we were providing a much needed international transfer solution. The support of government agency CORFO confirmed that, and we started to explore new partnerships to help us scale,” Téofilo de la Cerda Castro, CurrencyBird founder and CEO, said. “We chose AFEX because of its global reach, excellent reputation, and expertise in working with companies like ours. We shared our vision and our ambitions for growth with the AFEX team, and their API solution enables us to bring our services to more clients around the world. We’re looking forward to deeper strategic collaboration with AFEX.”
Laura McLoughlin, Director of Partnerships, AFEX Americas, added, “Our partnership with CurrencyBird demonstrates the flexibility of our “powered by AFEX” API model. Our experience working with MSBs helped us in the initial stages, and our tech and account teams worked in tandem with the CurrencyBird teams to customize the workflows and implementation to their platform. Our process and the ongoing support we provide is unique in the industry and will help both our companies to grow.”
The partnership connects CurrencyBird’s efficient payments platform to the deep global payments expertise of AFEX via AFEX’s API technology, expanding CurrencyBird’s reach and the payments options it can offer clients.
CurrencyBird is the first Chilean online money service provider helping individuals and businesses with their international money transfers. Founded in 2015, it serves payments from Chile to the world through electronic means freeing its customers from the time-consuming paper-based processes and allowing them to access to the lowest rates in the market.
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