Cross-border payments firm Tranglo has added Hong Kong as a receiving corridor on its cross-border payments network to allow near real-time payouts.
Tranglo will leverage the country’s Faster Payment System, launched by the Hong Kong Monetary Authority in 2018 to facilitate quicker money transfers, and Global E-money Alliance (GEA) to create a seamless cross-border payment highway.
The firm said that this addition is expected to benefit all existing partners and businesses looking for an integrated payout solution to Hong Kong.
Tranglo’s direct-to-bank payout service is available 24/7 and supports both individual and business senders.
Individual beneficiaries will receive the funds in Hong Kong within minutes, subject to terms and conditions.
Tranglo helps financial institutions and businesses pay globally through Tranglo Connect, its proprietary cross-border payments solution. It integrates payout and partner services seamlessly, unifying the end-to-end payment process with direct API access.
With Tranglo Connect, companies can immediately make payments to over 23 countries reliably and securely.
Jacky Lee, CEO of Tranglo Group said,
“Hong Kong has always been a popular sending corridor for us. In 2020, it came 2nd in our list of top sending corridors.
This year, the huge demand for payments into Hong Kong has prompted us to make it a receiving corridor too. Businesses and partners can now make quick and reliable payments to Hong Kong.”
Featured image: Edited from Pixabay