Tranglo through its Singaporean entity has entered into a partnership with Alipay to provide cross border remittance services
The company said the deal marked a significant milestone in the company’s history, as it enters a collaboration for the first time with Alipay, which is operated by Ant Financial, the payments affiliate of Alibaba Group. Alipay currently serves more than 1.2 billion users around the world together with its local e-wallet partners.
Licensed and regulated by the Monetary Authority of Singapore to perform remittance business, Tranglo maintains far-reaching remittance corridors with partners from the UK to Australia.
As part of the partnership, Tranglo will facilitate seamless cross-border remittances to users of Alipay, who will be able to receive quick and secure money transfers within the app.
“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,”
said Clara Shi, Alipay’s head of the global remittances business.
“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.”
Tranglo expects the collaboration to especially benefit migrant workers around the world, particularly in Asia, where the cross-border payment hub has a foothold in the remittance market through local partners.
