BigPay Hits RM1 Billion Milestone for International Remittanceby Fintech News Malaysia November 10, 2022 0 comments
BigPay announced that it had achieved a new milestone for its international remittance feature.
The company said it had achieved RM1 billion in Gross Transaction Value (GTV) for its international remittance feature.
BigPay allows users to send money to other countries bank accounts and mobile wallets. The service is available in over 50 countries and supports over 30 currencies.
BigPay currently serves a total of 45 corridors, including its latest addition of Northern Ireland, Scotland, and Wales in the United Kingdom and 34 countries in Europe, including France, Germany, Italy, Belgium, and Spain.
The company said that the achievement is a testimony to the growing demand for its international remittance service.
BigPay has recently recorded a 41 percent growth in international remittances in October 2022, compared to January 2022.
“The ability to move money globally for our customers in a fast and cost-effective way has been a critical factor in how we have developed the remittance product,”
said Salim Dhanani, BigPay CEO and Co-Founder.
“We have continued to expand the corridors we serve and will continue to enhance the product overall. We are grateful for the support from all our customers that have helped us achieve this milestone,” he added.
The corridors that see the highest number of outbound remittances from Malaysia include Indonesia, Thailand, Singapore, the Philippines, India, and China. The newest additions to its remittance corridors across the UK and EU have seen 113 percent month-on-month growth since their launch in August 2022.
Featured image credit: Edited from Unsplash