26 May 2017
Visit www.capgemini.com/worldreports

Transpay adds new funding currencies for firms paying globally

03 May 2017  |  1980 views  |  0 Source: Transpay

To support the growing need for cross-border payment efficiency and flexibility, Transpay has enhanced its B2B/B2P currency capabilities to support the global operations of its enterprise clients.

Transpay enables businesses to complete mass payouts to more than 120 countries, in over 60 currencies. Through its proprietary network and robust technology solutions, Transpay serves leading e-commerce marketplaces, affiliate marketing platforms and payment service providers.

Now, businesses have the ability to fund their Transpay accounts in 11 settlement currencies, including Singapore dollar (SGD), Hong Kong dollar (HKD) and Australian dollar (AUD), in addition to customary origination currencies like United States dollar (USD) and Euro (EUR).

For businesses which operate in these currencies, this eliminates the need to convert funds prior to settlement, making payments faster and more cost-effective.

“Globally, marketplaces and digital platforms often pay double conversion fees when sending bank wires, first from converting into USD or EUR and then to the local currency of the receiver,” says Joe Tumbarello, CFO/COO, Transpay. “Transpay is eliminating these fees to ensure that businesses operating in their local currencies are getting maximum value from each transaction.”

Transpay’s additional funding currencies help to support businesses in growing industries as they expand cross-border, by addressing the inherent challenges of multi-currency mass payments. For example, as the e-commerce industry in Southeast Asia is expected to surpass US$25 billion by 2020, payments account for the biggest challenge for the e-commerce companies that proliferate the region, according to a Frost & Sullivan study.

“These expanded offerings reinforce our commitment to simplifying mass cross-border payouts,” says Samish Kumar, CEO, Transpay. “As payments is at the core of operations for every business, Transpay is boosting the efficiency of global money movement.”

Transpay’s funding currencies include: Canadian dollar (CAD), Great Britain pound (GBP), Gambian dalasi (GMD), Philippines peso (PHP), West African CFA franc (XOF), Japanese yen (JPY), HKD, AUD, EUR, SGD and USD. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit dh.comvisit www.ebaday.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
11142 views comments | 48 tweets | 72 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
9347 views comments | 21 tweets | 24 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7090 views comments | 12 tweets | 24 linkedin
Security experts struggle in search for WannaCry clues - ReutersSecurity experts struggle in search for Wa...
6420 views comments | 3 tweets | 3 linkedin
hands typing furiouslyPSD2 is fast approaching. Don’t bury your...
6212 views 1 | 5 tweets | 5 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job