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StoneX Group Inc. (NASDAQ: SNEX) and Bamboo Payment Systems have formed a strategic partnership to enhance cross-border payment capabilities for global merchants, with a focus on Latin American markets. The collaboration includes an undisclosed investment from StoneX.
The partnership aims to combine StoneX Payments' foreign exchange expertise and correspondent banking network with Bamboo's extensive payment connections throughout Latin America, creating a comprehensive solution for merchants and financial institutions operating in the region.
According to the companies, clients should benefit from improved foreign exchange pricing, more reliable settlement processes, better acceptance rates, and enhanced cash flow efficiency.
StoneX Payments currently provides cross-border payment services to financial institutions, corporations and international development organisations in over 180 countries worldwide. The company maintains a correspondent network of more than 385 banks and offers settlement capabilities in over 140 currencies.
Bamboo specialises in Latin American payment ecosystems, facilitating both collections and disbursements for global merchants in the region. The company's proprietary platform connects to more than 600 local banks and financial institutions across 11 countries, supporting over 200 payment methods. Bamboo currently serves more than 500 clients and partners.
"Over the past two years, we have made pivotal strategic investments to scale our global, market-leading payment capabilities. We are thrilled to announce this new partnership with the exceptional team at Bamboo, which brings together best-in-class solutions to set a new standard in global payment services," said Thiago Vieira, Global Head of StoneX Payments.
Clayton McDonald, Head of Americas at StoneX Payments, added: "We are excited about our partnership with Bamboo. The combination of our 30 years of foreign exchange payments expertise with their platform and network of over 200 payment methods in Latin America creates a unique solution for global merchants operating in the region. As demand for reliable payment solutions with a competitive and transparent FX component continues to grow, we believe our product offering will represent a substantial value-add in the market."
Marcelo Perez, CEO of Bamboo, commented: "This partnership is a key step in expanding the reach of our payment solutions to support global merchants looking to grow in Latin America. By working with top financial institutions and leveraging our extensive payment network, we enable businesses to operate with confidence in the region. Collaborating with StoneX enhances our ability to provide efficient, secure, and flexible payment, money movement, and FX solutions that meet the evolving needs of merchants worldwide."
The partnership comes at a time when cross-border payment solutions are increasingly important for businesses expanding internationally, particularly in regions with diverse payment methods and regulatory requirements like Latin America.
The transaction remains subject to regulatory approval.
