Western Union Business Solutions (WUBS) has signed a multi-year cross-border business payments deal with Manentia Software, a Uruguay-based provider of IT services to financial institutions across Latin America.
The partnership will bring WUBS’ international payment infrastructure to Manentia’s banking clients in the region, allowing them to access international transfers in over 130 currencies.
The payment services firm said that lenders using Manentia’s virtual banking platform, Nazca, will be able to facilitate payments for business clients through both traditional SWIFT channels and through international domestic payment gateways.
WUBS said that this deal will open up the global marketplace for banks and businesses based in Latin America by giving them access to a world-class international payments infrastructure, which will be supported by the company’s network of trading offices, strategic banking relationships and a global clearing network.
Western Union Business Solutions vice president of Latin America and the Caribbean Alfred Nader said: “Western Union Business Solutions is committed to bringing our cross border payment technology and payment infrastructure to Latin America. The fact that Manentia’s sole focus is on digital banking innovation made our collaboration a great fit. We look forward to bringing our robust payment infrastructure to Manentia’s client base.”
Manentia CEO Claudia Fernández said: “Our clients range from multi-national banks to regional players, but they have something in common: the desire to bring the best online banking experience to their clients. Giving them access to a first class payment infrastructure fits well with our strategy of meeting our clients’ demands for having access to the best in banking technology.”