New payment option emerges for companies doing business in Mexico

News Snapshot:

(Photo: FreightWaves) Mexico eclipsed Canada and China to become the top U.S. trading partner in 2023. This shift came amidst the ongoing push toward nearshoring and friendshoring efforts in the manufacturing sector. This trend suggests that last year’s boom is just the beginning of the growing partnership between Mexico and the U.S. U.S. trade with Mexico totaled over $855 billion in 2023 – including $362 billion in exports and $493 billion in imports, according to the United States Trade Representative. This level of trade has created strong local, fast and secure international payment options. Earlier this month, TriumphPay announced that...