July 16, 2024

The European debut of CAB Payments

April 04, 2024
3Min Reads
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Introducing CAB Europe BV, operating as CAB Payments Europe, as part of its expansion into the European Economic Area (EEA), CAB Payments Holdings said today.

In order to offer its services in the Netherlands and to be able to use its passporting rights to offer its services throughout the European Economic Area, CAB Payments Europe has obtained a license as a payment service provider from De Nederlandsche Bank N.V. (DNB). In addition to offering last-mile delivery services, wholesale FX, cross-border payments, and access to a global pool of G10 and difficult-to-reach market currencies, CAB Payments Europe operates out of the Netherlands.

Kostas Konstantis, the General Manager of CAB Payments Europe, oversees the company's commercial operations. He has over 20 years of financial services experience, having worked for ABN AMRO, BNP Paribas, and RBS. A Supervisory Board has also been established by CAB Payments Europe to manage the new organization. The members of the Board are:

• Tamara Monzon, the chair, is a professional supervisory board member and vice chair of the supervisory board at Uber Payments. She also serves as an interim executive board member at Context Logics Collections, the Wish payments platform.
• Steven Marshall, who serves as a shareholder representative and is Crown Agents Bank's chief partnerships officer.

With CAB Payments Europe, businesses can transfer money to and from difficult-to-reach regions swiftly, effectively, and securely thanks to CAB Payments' proven worldwide payments network, scalable, purpose-built technology platform, and long-standing partnerships.

 

A specialized supplier joins the EEA market

The transfer of cash across borders is a substantial and steadily expanding industry, driven by the increasing need to access, exchange, and distribute monies in developing nations. Cross-border payments, especially in these difficult-to-reach sectors, can be costly, cumbersome, and opaque despite the opportunity and demand.

With its European headquarters located in Amsterdam, CAB Payments Europe intends to leverage the great talent pool in the Netherlands to support its clients in the EEA and collaborate with new organizations.

 

The Netherlands was chosen because of its robust clientele and market potential in the area, in addition to its strict laws that conform to the requirements of the rest of Europe. Furthermore, the Netherlands offered CAB Payments an allure for expanding its operations in the European Economic Area (EEA) due to its robust financial infrastructure, well-established fintech ecosystem, worldwide connection, and dynamic international development sector.

 

Driven by client demand


Due to market demand, the company's expansion into the EEA is a key component of its global goals. Since the withdrawal of larger traditional banks has diminished the reach and competitiveness in cross-border payments, the current global payment landscape presents challenges for EEA organizations seeking to transfer funds to and from emerging regions in an efficient manner.

 

To ensure that money gets to where it's most needed, CAB Payments Europe will quickly and reliably link its clients to underserved regions. With more than 700 currency pairs, it provides a single API for all FX and cross-border payments involving more than 100 currencies. Being a part of CAB Payments Holdings gives CAB Payments Europe access to a wide network of partners that offers reasonable pricing as well as prompt and dependable settlement.
 

FX and payments to and from markets that are difficult to access are frequently costly, sluggish, and opaque. Transnational transactions may incur high FX margins and expenses. According to Kostas Konstantis, General Manager of CAB Payments Europe, "these challenges exacerbate global inequality, stunt international trade, and limit growth for EEA organizations, especially governments and NGOs looking to transparently disburse aid during humanitarian crises." "CAB Payments Europe wants to find a solution for the whole EEA. We can transfer money for top international organizations that respect the highest standards swiftly, affordably, and transparently in complex situations and to complex markets thanks to our network, technology, and experience.

 

"I am delighted that CAB Payments Europe has received this approval with such a respected regulator within the EEA; this is testament to the quality of our compliance and service culture," said Bhairav Trivedi, CEO of CAB Payments. This represents a huge growth prospect and is an important step in the company's progress. Europe has always been considered a significant market for the Group. We are eager to speak with prospective customers and transfer funds where they are required.
 

 

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