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 joins a group of major payments industry players in the association.
The association has created a contractual framework to improve cross-border credit transfers.
MFIC president and CEO Atsumasa Tochisako said they are thrilled to join IFPA 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.
MFIC operates ARIAS, an advanced payment/settlement system connected to a network of payers in over 100 countries.
