London, 28th September 2017 – Industry-leading financial utility, Banking Circle, has become the Benefactor of a major new project being spearheaded by the Emerging Payments Association (EPA). Designed to support the growth of early stage FinTech companies around the world, Project International Trade is set to encourage trade between EPA members and non-EU target markets in the payments industry. The project has been endorsed by Foreign Secretary, Boris Johnson, for its accomplishments in supporting and promoting international trade.
The strategy of Project International Trade is to develop links between UK payment companies and political institutions and financial services organisations in Latin America, Far East Asia, Central & Eastern Europe and southern Africa. Project International Trade delivers this through a programme of education, creating international trade channels, and engaging with UK and international governmental bodies and embassies. To date, it has led a delegation of UK PayTech companies to China to meet potential investors including the elite of Beijing’s Silicon Valley. In addition, it has spearheaded trade missions to Mexico and Serbia, including hosting a conference in Belgrade – funded by the Department for International Trade (DIT) and ERDF’s Global Growth Project.
Similar communities of payment companies are being established in Eastern Europe and Africa which will deliver a portfolio of events, lobbying, and projects similar to the EPA. Project International Trade will also provide a match-making service to connect EPA members with payments service users internationally. The project will also deliver webinars on payments topics relevant to specific markets and develop stronger ties with government agencies focused on the development of UK entities within emerging markets.
Project International Trade will focus on stimulating the adoption of new payments products and services in emerging markets facilitated by the Banking Circle platform, which has become firmly established as a solution to the cost and time barriers of cross-border payments. As a Benefactor, Banking Circle will help deliver a FinTech Regulation Helpline service to help FinTechs navigate new payments-related regulations. And to provide the essential support for start-ups, Banking Circle will provide a special rate for international fund transfers for EPA Fintech ScaleUp Members.
“We are at a crossroads in terms of the growth of the emerging payments sector and it’s crucial that everything is done to help businesses that want to enter this marketplace”, explained Anders la Cour, Chief Executive Officer of Banking Circle. “By becoming the Benefactor of Project International Trade, I believe Banking Circle can play a crucial role in empowering businesses to trade cross-border without barriers.”