MFIC becomes member of International Payments Framework Association

Microfinance International Corporation (MFIC), operator of ARIAS, a global turnkey remittance solution, has joined the International Payments Framework Association (IPFA).

MFIC joins a group of major payments industry players in the association.

MFIC president and CEO Atsumasa Tochisako said they are thrilled to join IPFA and aid in simplifying cross-border credit transfers.

"As a leading remittance solution, we support and look forward to contributing to the creation of a framework for these transfers, "Tochisako said.

IPFA CEO Arthur Cousins said the International Payments Framework Association is delighted to welcome Microfinance International Corporation, one of their newest members, into their association.

"We hope their membership in the association will help them achieve their mission of expanding affordable and professional financial services to markets where their services are not available at present. We look forward to a strong and long lasting relationship with this innovative organization," Cousins said.

The IPFA was established as a US not-for-profit association in February 2010 and encourages enabling interoperability between domestic and regional non-urgent payments systems and banks.

MFIC operates ARIAS, an advanced payment/settlement system connected to a network of payers in over 100 countries.