Growing demand for international payments
The British company World First is setting up an office in Amsterdam. The company sees the Netherlands as an especially interesting market because of its good export climate and the high cost of international payments.
At the Money2020 FinTech fair in Copenhagen, World First co-founder Jonathan Quin said in the Dutch newspaper FD that the Dutch financial system could be much more efficient, in part due to the currently high costs. There is a growing demand for payment services coming from the Netherlands, he said, and the number of orders is large enough to warrant opening the new office in Amsterdam. And because transactions can be complicated and involve a lot of money, personal contact is important.
Amsterdam as a European base
Quin also said that the Netherlands is a first step towards the company’s further European expansion, with other possible markets being Spain and France. World First plans to initially have a staff of six in Amsterdam, focusing mainly on customer service.
Over the past thirteen years, World First has grown into one of the largest providers in the field of international payments. Internet commerce is feeding the company’s rapid growth, with demand becoming increasingly international. Last year World First processed about €15 billion in international transactions, for 30,000 businesses. In addition to London, World First also has offices in Hong Kong, the United States, Singapore, and Australia.