Saxo Payments Banking Circle, has become the benefactor of an Emerging Payments Association (EPA) project to support the growth of early stage fintech companies around the world.
Project International Trade (PIT) is set to encourage trade between EPA members and non-EU target markets in the payments industry. The project has been endorsed by U.K. Foreign Secretary Boris Johnson for supporting and promoting international trade, according to an announcement.
The strategy of PIT is to develop links between U.K. payment companies and political institutions and financial services organizations in Latin America, Far East Asia, Central & Eastern Europe and southern Africa. The project will focus on education, creating international trade channels, and engaging with U.K. and international governmental bodies and embassies. To date, it has led a delegation of U.K. 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 and ERDF’s Global Growth Project.
PIT also will promote the adoption of new payments products and services in emerging markets facilitated by the Banking Circle platform, which the group says addresses cost and speed barriers of cross-border payments. As a benefactor, Saxo Payments Banking Circle will help deliver a fintech regulation helpline service to help startups navigate new payments-related regulations. Saxo Payments Banking Circle also will provide a special rate for international fund transfers for EPA Fintech ScaleUp members.