OFX partners with Link Market Services for cross-border transactions

Cross-border payments service provider OFX (ASX: OFX) has entered into an exclusive partnership with Link Market Services (ASX: LNK).

The partnership will see OFX provide Link with an end-to-end digital cross-border payments solution that will improve Link’s shareholding management platform.

The service will initially be offered to investors who currently use Link to receive dividends in cross-border transactions. The partnership between the two will be for five years initially and is expected to launch in March 2020.

With the integration of OFX’s technology, it will be easier and cheaper for offshore investors who hold investments in listed Australian companies to transfer their funds internationally.

In a statement to the ASX, OFX says the partnership will generate around $5 million in annual fee and trading income by FY22.

To read more, please click on the link below…

Source: OFX partners with Link Market Services for cross-border transactions