- Tranglo has announced that it will bring international payments to Malaysia as part of a wider plan to improve its offer in the region.
- Its payment network, which is called DuitNow, has put through more than two billion payments in the last three years.
- “The ubiquity of DuitNow means infrastructure support for real-time transactions not just within Malaysia, but across ASEAN,” said a senior figure at the firm.
Tranglo, a big name in the fast money transfer industry, has announced that it will bring its instant payments service to Malaysia.
The firm said that it will bring instant international payments to Malaysia as part of a wider plan to improve its offer in the region.
It is thought that the latest announcement will mean that over 80% of Tranglo’s international money transfers will be instantaneous.
Its payment network, which is called DuitNow, has put through more than two billion payments in the last three years. The new service, however, will be available 24 hours a day, seven days a week, and can be used both by companies and those sending for personal reasons.
In a statement, CEO Jacky Lee said that the firm’s capacity to make payments internationally had just been given a significant boost.
“Our regional payout capabilities just got a real shot in the arm,” he said.
“The ubiquity of DuitNow means infrastructure support for real-time transactions not just within Malaysia, but across ASEAN,” he continued.
“That is a huge market that our global business partners can tap into via Tranglo.”
DuitNow is a popular choice for Malaysians – it is able to bring together bank accounts in the nation as well as e-wallets.
Transactions made on the site are subject to terms and conditions but come backed with top technology, including application programming interface integrations.
Tranglo was set up back in 2008 and has offices in various global financial hotspots, including Dubai and London. Its network includes more than 150 nations around the world.
The firm also has its own proprietary cross-border payments solution, Tranglo Connect, which allows businesses and financial institutions to pay globally.
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