This program makes it quicker and easier for InstaReM to build and deliver new commerce experiences on Visa’s payments network.

Meaning InstaReM will be able to issue cards for its fintech/start-up partners in just four weeks of them being in the program, compared to the the previous six-to-nine months it took to acquire a licence and develop own payment infrastructure.

As part of the Visa fintech fast-track, the two companies will work together to build new solutions for moving money to and from different countries in fast, convenient ways that provide users with seamless digital payments and money transfer experiences.

Having started operations in Australia in 2015, InstaReM is a leading digital cross-border payments company that enables consumers, businesses and banks to make international money transfers at a low cost.

Prajit Nanu, co-founder and CEO of InstaReM, said, “It’s a matter of honour for InstaReM to be a part of the Visa fintech fast-track program. We will draw from Visa’s vast network and experience in payments services in Asia-Pacific and other regions.”

“Even with all the digital forms of payment that exist today, transferring money internationally can still be a time-consuming, inefficient process,” said Hamish Moline, Head of Digital Partnerships, Asia Pacific, Visa. “We’re excited to welcome InstaReM to the Visa fintech fast-track program and to work with them on tackling an area of payments where there is still a lot of opportunity to bring innovation to the customer experience.”