- Global Network
- Counterparties
- Tasman Reach Payments
Counterparty · Payments institution
Tasman Reach Payments
Tasman Reach Payments is a licensed payments institution that runs New Zealand dollar and Australian dollar collections and disbursements for the aquaculture and dairy-science businesses the Commercial Finance division finances across the Tasman. The relationship began in 2024 with the Auckland representative desk. Tasman Reach processes around 1,900 payments a month for those businesses and their grower networks.
The relationship
Aquaculture and dairy-science businesses pay hundreds of small growers and suppliers on short cycles. A payments institution handles that volume at a fraction of correspondent banking cost and reports each payment file by the end of the day. The Commercial Finance division uses those files to size the seasonal facilities, which lets the growers be paid before the harvest is sold.
Services to IGUAKO and its clients
- New Zealand and Australian dollar payment processing
- Grower and supplier disbursement files
- End-of-day payment reporting to Commercial Finance
- Sanctions and fraud screening of payments