Cross-border payment hub Tranglo has expanded its services to allow instant, direct cross-border payments to over 30 e-wallets worldwide.
This development aims to streamline the process of cross-border payments by bypassing intermediaries, facilitating quicker access to funds for recipients, particularly in rural areas where traditional banking services may be scarce.
With the introduction of direct-to-wallet transfers, Tranglo targets to improve the reliability and convenience of remittances, leveraging e-wallets’ constant availability.
Currently, this service spans several countries, including Bangladesh, Cambodia, China, Indonesia, Nepal, Pakistan, the Philippines, and Vietnam, with plans for further expansion.
Tranglo’s strategic enhancements also extend to its proprietary platform, Tranglo Connect, which supports financial institutions and businesses in executing secure and reliable payments across 80 countries.
This platform ensures seamless integration and management of payout and partner services through direct API access.
Jacky Lee, CEO of Tranglo Group said,
“Our data shows that cross-border transactions to e-wallets have doubled since 2021. Across the board, e-wallet payouts are outpacing banking channels this year, with some corridors, like GCC to Pakistan, experiencing a surge of nearly 400% in transactions.
It’s all about helping businesses create more value. For example, 1 of our biggest partners in the UAE saw an 8-fold increase in transactions to Pakistan and Indonesia after adding our e-wallet payout service. The growth opportunity presented by e-wallet cannot be overstated.”
