Global payment solution provider Bamboo Payment has entered into a strategic partnership with Ontop to augment the workforce management landscape in Latin America. 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 When it comes to the current announcement, representatives from Bamboo underlined that in addition to accelerating transactions, the partnership with Ontop also supports their company’s commitment to offering dependable and transparent services.

Since beginning their merged operations, the two companies assisted thousands of contracts by processing their transactions with a 99.75% approval rate, as detailed in the press release. By teaming up, Bamboo and Ontop minimised payment processing times from days to minutes, the majority of them in real-time, covering all local banks and digital wallets within the region. Through this, contractors can access their funds in the Ontop account at any time, offering them instant availability and simplified currency conversion. 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.

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