Payment stack recipes: what it takes to launch in each market
For cross-border payment companies opening a new market or corridor: the licences, local rails, payout partners, banks, stablecoin ramps, FX, KYC and bank data providers in each country, with sources, plus corridor costs, holiday gaps and side-by-side provider comparisons.
Launching in a market
BangladeshPaying out in Bangladesh means a Bangladeshi bank with a Bangladesh Bank-approved drawing arrangement credits taka to a ...BrazilPaying out in Brazil means crediting reais to the recipient's deposit or prepaid payment account through an institution ...ChilePaying out in Chile means sending a Transferencia Electronica de Fondos (TEF) to a local bank account, which the CCA cle...ColombiaPaying out in Colombia means routing the transfer through a foreign exchange market intermediary (IMC), such as a bank, ...Dominican RepublicPaying out in the Dominican Republic means crediting pesos or US dollars to accounts at banks and electronic payment ent...EgyptPaying out in Egypt means delivering pounds, or US dollars to some bank accounts, through CBE-licensed banks, which sinc...GhanaPaying out in Ghana means terminating cedis into mobile money wallets, bank accounts or over-the-counter cash through a ...GuatemalaPaying out in Guatemala means crediting quetzales or US dollars to bank accounts through Guatemalan banks, which settle ...IndiaPaying out in India means using a channel the Reserve Bank of India permits: a Rupee Drawing Arrangement or Vostro accou...IndonesiaRemittance in Indonesia is a payment service that needs a Bank Indonesia licence, so foreign senders pay out through ban...KenyaPaying out in Kenya means delivering shillings to M-PESA wallets (up to KES 250,000 per transaction) or bank accounts th...MexicoPaying out in Mexico means crediting pesos to an 18-digit CLABE over SPEI, which Banco de Mexico runs 24/7, or paying ca...MoroccoPaying out in Morocco means delivering dirhams through Bank Al-Maghrib-licensed banks or payment institutions such as Wa...NigeriaPaying out in Nigeria means delivering naira only: a CBN-licensed IMTO sells the incoming foreign currency through an Au...PakistanPaying out in Pakistan means delivering rupees through an SBP-regulated bank, microfinance bank or exchange company that...PeruPaying out in Peru means crediting soles or US dollars to bank accounts identified by their CCI, or soles to wallets suc...PhilippinesPaying out in the Philippines runs over InstaPay for real-time transfers (PHP 50,000 per transfer for most senders, up t...South AfricaPaying out in South Africa means delivering rand to bank accounts over EFT, RTC or PayShap (up to R50,000 per payment, s...UgandaPaying out in Uganda means crediting shillings to MTN MoMo or Airtel Money wallets, which carried nearly 61% of 2025 rem...VietnamInbound remittances to Vietnam are paid by credit institutions or by economic organisations licensed to receive and pay ...
Sending from
United StatesCollecting and sending cross-border payments from the United States takes FinCEN registration as a money services busine...CanadaCollecting and sending cross-border payments from Canada takes registration with FINTRAC as a money services business (o...United KingdomCollecting money in the UK and sending it abroad requires FCA authorisation as a payment institution or e-money institut...EurozoneCollecting and sending from the euro area takes a payment institution or e-money institution licence from one national c...United Arab EmiratesSending money from the UAE requires a Central Bank of the UAE licence, either an Exchange Business licence (Category I o...
Corridors
From Canada
From France
From Germany
From Italy
From Netherlands
From Spain
From UAE
From United Kingdom
From United States
Provider comparisons
dLocal vs EBANXdLocal and EBANX both let global companies collect local payments and send payouts in emerging markets through one integ...Thunes vs TerraPayThunes and TerraPay are both B2B payout networks that money transfer operators, banks, wallets and platforms prefund and...Bridge vs BVNKBridge, a Stripe company, and BVNK, now part of Mastercard, both let payment companies hold, convert and move stablecoin...Fireblocks vs BitGoFireblocks and BitGo both give payment companies institutional wallets for holding stablecoin float, with API access to ...Nium vs RapydNium and Rapyd both let a payment company hold a prefunded balance and send payouts to bank accounts, cards and wallets ...Column vs Cross RiverColumn and Cross River are both FDIC-insured US banks that give payment companies API access to ACH, wires, RTP and FedN...pawaPay vs OnafriqpawaPay is a mobile money API that runs deposits, payouts, refunds and remittances to wallets in 23 African markets, whi...Airwallex vs NiumAirwallex and Nium both give payment companies multi-currency balances, FX and payouts by API, with Airwallex paying out...
Know where all your money is.
Polynopsis gives cross-border payment teams one live position across every bank, payout partner, exchange and wallet, including money in flight, and warns before a corridor runs dry.