InstaReM, a leading digital cross-border payments company, on Tuesday announced its expansion into Malaysia, further solidifying its presence in Asia Pacific (APAC).
The Singapore-headquartered InstaReM is one of the largest cross-border payments providers globally, with licenses in 8 markets and covering 40 countries, reaching to 3.2 billion people in the developed as well as developing countries.
Launching InstaReM's Malaysia operations in Kuala Lumpur, Pratik Gandhi, InstaReM's Chief Business Officer said, “InstaReM hopes to collaborate closely with consumers and financial institutions to offer the best product solutions to its customers in Malaysia and across the world. We want to drive the adoption rate of technological innovations across both business as well as individual consumers.”
Besides individual and corporate customers in Singapore, Australia and Hong Kong, those in Malaysia too will be able to enjoy cost-effective and efficient cross-border money transfers to over 60 countries across the globe. InstaReM does not charge any fixed fee for the P2P payments. It just charges a small percentage of the Mid-Market FX rate as an FX charge. The amount so computed is transparently displayed to the customer at the time of the transfer.
The firm previously expanded its footprint into the European Union with the opening of an office in Lithuania in September 2017. InstaReM will also start its India operations in December, following recent approval from the Reserve Bank of India (RBI).