Sunday 18 March 2018

TransferMate beefs up management team as it gains US regulatory approval

Company owner and entrepreneur Terry Clune
Company owner and entrepreneur Terry Clune
Samantha McCaughren

Samantha McCaughren

Global business-to-business payments platform TransferMate has beefed up its senior management team after confirming it has gained full US regulatory approval.

Upon Britain's exit from the EU, the Kilkenny company, which is owned by entrepreneur Terry Clune of the TaxBack Group and Sinead Fitzmaurice, will become the only EU Payment Institution regulated throughout the EU and in every US state, according to the company.

Gary Conroy, former managing director of Realex Payments has joined TransferMate as chief commercial officer, the firm's new North American board advisor.

He has worked with companies such as Goldman Sachs, Misys Financial Software Systems and Axway.

Most recently, he served as managing director of Realex Payments following the company's acquisition by Global Payments in March 2015 for €115m, one of the largest deals in European FinTech.

After the transaction was completed, he oversaw growth of the platform's transaction volume, processing in excess of one million transactions per day. In another appointment, Rafael de la Vega, former director of global partnerships at Intuit in Silicon Valley, will also become a TransferMate North American board advisor.

He has previously held the position of vice president of commercial solutions with Visa Payments.

Meanwhile, Clune is working on a several developments for TransferMate.

He is currently in negotiations with a number of major US banks about a new product that the firm hopes could revolutionise the international money-transfer market.

The new service would cut out expensive interbank transfers by using TransferMate bank accounts in each country.

Sunday Indo Business

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