SAO PAULO, Aug 21 (Reuters) - Latin American corporate card provider Clara has launched cross-border transactions, the company announced on Monday, expecting to move up to $100 million by the end of the year.
Through the service, clients can now pay bills in major foreign currencies, Clara said in a statement.
Earlier this month, Clara announced it was moving its headquarters from Mexico to Brazil, betting on the South American country becoming its largest market by 2024.
Half of the company's leadership is already based in Brazil, Clara said on Monday.
($1 = 17.0143 Mexican pesos)Reporting by Kylie Madry; Editing by Conor Humphries and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.
Persons:
Clara, nearshoring, Clara said, Kylie Madry, Conor Humphries, Cynthia Osterman
Organizations:
SAO PAULO, Reuters, Thomson
Locations:
American, Mexico, Colombia, Brazil