- Partnership is set to focus on a mobile app which will enable more inclusive money transfers across borders to a range of customers
- Tranglo, which operates in many key markets around the world and has over 1,000 payout partners, has received a license from the Monetary Authority of Singapore to operate
- “We look forward to working closely with Tranglo for global remittances, as we continue to explore new ways to apply our technology in order to benefit more people globally”, says Alipay spokesperson
A major fintech firm has announced that it is set to work alongside Alipay, a prominent payments platform, to deliver international money transfer services in a more inclusive way.
The new collaboration is a real watershed moment for Tranglo, which will work alongside Alipay – a trusted and respected name in this sphere – for the first time.
When the new partnership gets off the ground, Tranglo will enable remittances to be placed across borders for Alipay’s many customers.
Those customers will then receive the cash in a mobile app.
It is expected that some of the main beneficiaries of the move will be immigrant workers, of which there are many in regions such as Asia.
According to Clara Shi, who works as Alipay’s head of the global remittances business, the move will help “benefit more people”.
“We look forward to working closely with Tranglo for global remittances, as we continue to explore new ways to apply our technology in order to benefit more people globally”, she said.
“We are committed to working with partners such as Tranglo, using innovative technologies to help global consumers gain access to inclusive financial services, creating greater value for society and bringing equal opportunities to the world”, she added.
Tranglo is a cross border payments platform which has been licensed by the Monetary Authority of Singapore.
It is quickly establishing itself as a key name on the money transfer scene.
It works in a wide variety of markets around the world, including ones as high profile as Australia and the UK.
Overall, it works in 21 currencies and has well over 1,000 payout partners.
It operates a range of foreign remittance services, and on its website, it offers the opportunity for cash to be sent home with speed.
“Money service businesses can connect customers with more countries and let them send money home quickly”, it says.
It offers a range of bill payment options too.
“International airtime top-up, mobile recharge and bill payment solutions” are all available, it says.
Alipay is a payments platform run by Ant Financial, which is in turn an affiliate of Alibaba Group – a major Chinese company which is known for its prominence in fields such as e-commerce.
Alipay is believed to have over 1bn users in locations across the globe.
Are you looking to stay on top of things in the cross border payments world? If so, check out our news pages and read some of our articles.
