INTL FCStone Facilitates 101,000 Cross-Border Payments in Q1

The finserv firm helped transfer more than $22 billion of payments in 2015.

INTL FCStones Global Payments Division reached a milestone in Q1 of 2016. The company, which specializes in transferring funds in local currency to the developing world, helped its clients with an estimated 101,000-cross border payments on behalf of its customers. This was a 14 percent increase over the same period a year ago.

The company also said it helped transfer more than $22 billion of payments in the 2015 calendar year, and is on track for a record year this year.

We have a very unique geographical reach and provide an unmatched level of transparency to the payments process, which ultimately allows our customers to control pricing and avoid the pitfalls associated with sending hard currency to be converted in local markets, saidCarsten Hils, global head of INTL FCStones Global Payments Division.

Global Payments Division has offices in Singapore, London and New York.The service is available to 175 countries in 150 currencies.