MEDA Trade Co. Endorses INTL FCStone Ltd’s Global Payments Division
INTL FCStone Inc. today announced that its London-based subsidiary, INTL FCStone Ltd’s Global Payments Division has been recommended by MEDA Trade Co. to facilitate cross-border payments to developing world countries for MEDA’s clients.
MEDA Trade Co. is the Mennonite Economic Development Associates’ payments unit, which is scheduled to close in June 2017.
Carsten Hils, Global Head of INTL FCStone Ltd’s Global Payments Division, commented on today’s news, “INTL FCStone’s Global Payments Division has enjoyed a longstanding relationship with MEDA and has worked closely with them on several projects in developing nations around the world. We are honored to be recommended by such an esteemed organization and look forward to providing MEDA and other NGOs with our superior global payments platform to help coordinate the vital work of these charitable organizations.”
INTL FCStone Ltd’s Global Payments Division specializes in transferring funds in local currency to the developing world and has been the industry leader in providing cross-border payments services in exotic currencies for two decades.
The Company allows clients to execute payments in more than 175 countries and 140 currencies through its global network of approximately 300 correspondent banks, and leverages this network to provide industry-leading intelligence on local market conditions that critically impact international payments and foreign exchange.
MEDA is an international economic development organization whose mission is to create business solutions where poverty exists. Founded in 1953 by a group of Mennonite business professionals, it partners with the poor to start or grow small and medium-sized businesses in developing regions around the world.
“We are pleased to endorse INTL FCStone’s Global Payments Division and confident that our clients will be exceptionally well served,” said Gerald Morrison, Chief Financial Officer at MEDA. “They have been excellent partners whose focus on conducting business in the most efficient and ethical manner aligns perfectly with our core principles.”