As part of their collaboration, Bamboo Payment and Ontop intend to centre their efforts on improving the workforce management landscape in the region by minimising payment processing times and advancing fund accessibility for workers. In addition, the strategic alliance aims to address longstanding difficulties faced by individuals, including delays in fund withdrawals and high conversion costs. By utilising Bamboo’s infrastructure, Ontop is set to augment its offering, providing transactions that are more efficient and cost-effective.
Bamboo and Ontop’s strategy in Latin America
Looking ahead, Bamboo and Ontop are set to extend these capabilities to additional markets in Latin America, intending to reproduce these improvements in markets facing similar difficulties. The two companies project that this expansion can optimise payroll efficiency, while also solidifying their presence in the industry. Officials from Ontop highlighted their company’s mission to simplify and augment payment operations worldwide.
Shortly before its partnership with Ontop, Bamboo was granted a financial institution licence from the Malta Financial Services Authority (MSFA), with the authorisation allowing the firm to officially enter the EU market and expand its service rollout. Additionally, the licence represented a strategic milestone for Bamboo, with the company intending to further extend its presence and operations in Europe and offer clients secure and innovative payment solutions.
link