Trans­fer­mate buys Swiss pay­ments firm

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - Fearghal O’con­nor

TRANS­FER­MATE has struck a Swiss ac­qui­si­tion deal that will give the rapidly-ex­pand­ing global pay­ments firm di­rect ac­cess to one of the world’s most im­por­tant fi­nan­cial hubs.

The deal to buy De­visen­werk is an im­por­tant one for the Kilkenny-based com­pany, said co-founder and chief fi­nan­cial of­fi­cer Sinead Fitz­mau­rice.

“De­visen­werk is a young com­pany but this deal gives us im­me­di­ate mar­ket en­try into Switzer­land, al­low­ing us to both pay out and col­lect in what is a very sig­nif­i­cant mar­ket, par­tic­u­larly in terms of cor­po­rate ac­tiv­ity.”

Trans­fer­mate – a part of Terry Clune’s Taxback Group and which has added 170 jobs in the past year alone – has reg­u­la­tory ap­proval across the EU, the US and a range of other mar­kets.

Switzer­land is an im­por­tant mar­ket for cor­po­rate funds and for in­vest­ment bank­ing for high-net-worth in­di­vid­u­als.

“Not many oth­ers have di­rect clear­ing ac­cess to Swiss banks and this ac­qui­si­tion pro­vides that for us,” she said.

De­visen­werk co-founder Matthaus Jam­roz said he was de­lighted to be­come part of Trans­fer­mate.

“Com­bin­ing De­visen­werk AG’S Swiss pay­ments li­cence with the B2B tech­nol­ogy and global reg­u­la­tory net­work of Trans­fer­mate will pro­vide Swiss busi­nesses with a com­pelling ef­fi­cient real-time pay­ment so­lu­tion when mov­ing money in and out of Switzer­land,” he said.

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