Transpay has always remained on the forefront as a cross border payment channels for B2B transactions all these years.
With operations now expanding to more countries, the currency exchange dealer has increased the number of global currencies it can accept across the counter, and supported by the platform.
In an official media release, a spokesman of Transpay said that today the Bureau is able to transact business in 11 settlement currencies, thus making funds transfer by corporate clients for B2B movements much easier and without need to convert funds prior to sending or receiving the funds.
With this addition, the total number of currencies that supports payout by Transpay has risen to over 60 global negotiable instruments, servicing more than 120 countries.
In a major fee-saving mode which will eventually benefit the consumer, Transpay has switched over to a unique system that ensures payouts and sends in local currencies, than foreign currencies which require double conversion.
Across the globe, currency exchange dealers have pre-set digital platforms and market-monitored systems through which a sender or receiver often ends up losing out when sending wires. Reason? The currencies are first converted to USD or EUR and then back to the local currency.
“These expanded offerings reinforce our commitment to simplifying mass cross-border payouts,”, said Transpay’s CEO, Samish Kumar. “As payments is at the core of operations for every business, Transpay is boosting the efficiency of global money movement.”, he added.
Currently, the funding currencies of Transpay include USD, EU, SGD, AUG, HKD, CAD, GBP, GMD, PHP, XOF and JPY.
Another area of expansion that Transpay has worked on, is the enhancing of its payment capabilities at corporate clients level.
As early as in 2015, the Company entered into an agreement with Base Commerce, to facilitate the latter’s customers with cross-border payments solution, reflected in near-real-time during the transactions.