BigPay Adds Vietnam and Australia to its Remittance Corridorby Fintech News Malaysia June 19, 2020 0 comments
BigPay announced today the addition of two more new corridors for its international remittance service — Vietnam and Australia, with China coming soon. This follows their announcement in January of adding India, Nepal and Bangladesh corridors.
BigPay said that offering low-cost, transparent, and accessible way of transferring money abroad is a cornerstone of its financial inclusion strategy. According to them, these three countries have some of the highest numbers of outbound remittances from Malaysia and are likely to drive further growth.
There are 26,000 Malaysian students in Australia, and 174,000 Malaysian-born expatriates living in the country. Transfers from Malaysia to both Vietnam and China are in the billions per year, according to World Bank Data.
BigPay launched its international remittance services in September 2019, enabling users to send money directly from Malaysia to bank accounts in Singapore, Thailand, Indonesia, and the Philippines, with no hidden fees or extra charges.