Chilean fintech Global66 launched a new feature that allows users to access IBAN and routing number details for their global USD and EUR accounts. This is a pioneering functionality in Latin America.
The new service targets freelancers, expatriates, students, investors, and businesses. It also facilitates fund withdrawals from PayPal, Airbnb, and Deel.
“For five years, we’ve been simplifying international money transfers. We made it easy to send money from Latin America to the world, but the key was making it just as simple in reverse,” said Tomás Bercovich, CEO and Co-founder of Global66.
International digital transfers have grown annually by 25% since 2014. In 2023, they surpassed 50% of total transaction volume for the first time, reaching a global market of $439 billion, according to Mastercard and Payments and Commerce Market Intelligence.
In Latin America, digital and electronic payments are on the rise. In Colombia, electronic transfers are the second most popular payment method at 12.6%, ranking third in the region behind Mexico (68%) and Peru (66%), according to Bain & Company.
