Tranglo partners with EzyRemit to enhance cross-border payments with Ripple’s ODL

By 0xGorki 02/28/23 1:25 PM

Tranglo, a leading cross-border payment hub, has announced that it has partnered with EzyRemit, one of Australia’s fastest-growing fintech companies, to enhance its remittance services. This partnership will allow EzyRemit to leverage Tranglo’s cross-border payment solutions to provide cost-effective and quick transactions across several key corridors, including Indonesia, Philippines, Vietnam, Thailand, India, and Bangladesh.

The partnership will also enable EzyRemit to utilise Ripple’s On-Demand Liquidity (ODL) as part of Tranglo’s global push for this service. This move will maximise working capital and streamline operations, resulting in more revenue streams for EzyRemit. Tranglo’s single interface platform will provide a seamless transaction process for EzyRemit’s customers to send international payments with ease.

The remittance industry has seen steady growth globally, with a 5% increase in 2022. However, legacy systems have continued to impede the growth of businesses, with fees and diluting margins. Cross-border transactions processed through formal corresponding banking systems are expensive and often take several days to clear. The partnership between Tranglo and EzyRemit is expected to transform the remittances landscape positively.

Tranglo processes 80% of cross-border payments in real-time globally, and its 24/7 payout services include direct-to-bank transfers, cash pickups, and home deliveries. The partnership between Tranglo and EzyRemit will provide an improved experience for customers with faster processing times, greater transparency, and enhanced security.

Tranglo Group CEO Jacky Lee expressed excitement about the partnership, stating that the collaboration would create unlimited possibilities with their technology. EzyRemit Co-Founder and CFO Allan Nguyen commented that the partnership would offer a comprehensive cross-border payment solution for all customers, transforming the remittances landscape positively.

Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittance, and mobile payment solutions. It has offices in Kuala Lumpur, Singapore, Jakarta, Dubai, and London, with a global network spanning over 150 countries, 5,800 mobile operators, 2,200 banks/wallets, and 140,000 cash pickup points. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments.

EzyRemit is a leading remittance company that provides secure and convenient cross-border money transfer services to individuals and businesses. With its extensive network, EzyRemit allows customers to send money to multiple countries in a quick and hassle-free manner. The company prides itself on offering competitive exchange rates, low fees, and fast processing times to ensure that remittances reach their intended recipients quickly and efficiently.

Overall, this partnership between Tranglo and EzyRemit is set to revolutionise the remittance industry by providing cost-effective, quick, and seamless transaction processes for customers across multiple countries.