As per the latest reports, Hamilton Reserve Bank, the hometown bank of the founding father of America, Alexander Hamilton, has agreed to enter a partnership deal with Mastercard Inc., to enable faster cross-border payments.
Mastercard’s Cross Border Services would reportedly enable Hamilton Bank to have access to around 90% of the world’s population via digital wallets, bank accounts, and cash withdrawal locations across the globe, with the aid of a single, secure point of access.
The partnership deal would allow Hamilton Bank to successfully unlock Mastercard capabilities to facilitate a faster, transparent, secure, and safe payment structure between people and businesses from over 100 countries alongside real-time payment advantages in almost every nation.
Elaborating on this development, Sir Tony Baldry, the founding chairman of Hamilton Reserve Bank claimed that the bank was able to uncover its robust compliance, advanced fintech capabilities, and core capital strength.
He further claimed that the bank is wholeheartedly ready to welcome Mastercard to leverage its additional payment channel capabilities to accelerate consumer payments.
Hamilton Bank is reportedly expecting to process more than 20,000 fund transfers per month in the forthcoming years.
Dalton Fowles, Country Manager for Mastercard’s Barbados, Jamaica, Trinidad, Tobago, and other Caribbean market divisions has echoed Tony Baldry’s sentiment by reiterating that the financial services giant is thrilled to be collaborating with Hamilton and stepping into a new regional domain that would be beneficial for them in helping people to pay and get paid at their convenience from anywhere in the world.
Interestingly, the partnership deal would prove to be advantageous for Hamilton Reserve Bank, as it would enable the bank to collectively expand on its existing banking payment partners, thereby improving its efficacy in serving long-standing consumers in the years to come.