Instapay Technologies and Mastercard, a global technology company in the payments industry, are enhancing international money transfer services for Instapay customers through Mastercard Move, a portfolio of money movement capabilities powering person-to-person and business payments to more than 180 countries worldwide in 150+ currencies. This collaboration will allow over 3 million migrant workers living in Malaysia to remit funds to home countries in local currencies in near real-time.
Malaysia’s migrant workforce comes primarily from Indonesia, Nepal, Bangladesh, India and the Philippines. With Mastercard Move, Instapay users in these five cross-border payment corridors as well as in Pakistan, can enjoy seamless transfers to bank accounts, digital wallets and cash pickup locations. They can also conveniently track payments, fees and estimated delivery times.
Instapay will first launch these Mastercard Move capabilities to individual customers in Q2 2025 and has plans to expand to corporate customers in the future.
“We are happy to deepen our relationship with Mastercard,” said Rajnish Kumar, Co-founder, and CEO of Instapay Technologies. “This collaboration enables us to leverage Mastercard’s vast global payment network and cross-border transfer expertise. It will enhance our remittance service to our customers, making it more efficient, secure, and cost effective.”
“Our goal has always been to leverage technology to make transactions more efficient and reduce the cost per transaction,” he further added. “There are many innovations happening in the cross-border payment space, and this collaboration ensures we stay at the forefront of offering enhanced services to our customers.”
“As the global economy evolves, there is an ever-growing demand for more practical, cost-effective digital solutions for cross-border payments. What is especially important for the millions of migrant workers in Malaysia who are supporting their families back home is that the money transfer is fast, secure and transparent,” said Beena Pothen, Country Manager, Malaysia & Brunei, Mastercard. “Mastercard Move leverages Mastercard’s trusted card and non-card networks and innovative, proprietary cybersecurity solutions so Instapay users can enjoy greater transparency and choice, as well as increased security and fraud protection – empowering Malaysia’s migrant workforce with the tools and solutions they need to live, work and transact with confidence, control and flexibility.”
Instapay Technologies focuses on financial inclusion for unbanked workers by providing accessible and convenient financial solutions. As a licensed e-money issuer, Instapay provides migrant workers with a comprehensive digital platform for their financial needs, including a prepaid Mastercard card, remittance solutions, and salary crediting accounts. Through its technology-driven approach, Instapay aims to improve financial access and well-being for underserved communities.
Mastercard Move provides banks, non-bank financial institutions, direct disbursers, and their customers with a fast, secure money transfer solution, both domestically and internationally. The portfolio of solutions reaches more than 180 countries and 150+ currencies, with access to more than 95% of the world’s banked population.