Connect with us

Crowdfunding

Cross-Border Payments Fintech Tranglo Continues to Expand Operations Globally to Support Local Businesses

Avatar

Published

on

Malaysia-based Tranglo, a cross-border payment firm, has established four new payment channels that are connected to financial networks in Brazil, Ghana, Nigeria, and Uganda. The payment corridors mark the Fintech firm’s first entry into Sub Saharan Africa and Latin American (LatAm) regions.

Tranglo’s management stated that they plan to do their part in reducing the overall cost of remittance payments in these areas.

World Bank data shows that Sub-Saharan Africa is one of the most expensive regions to send money to, averaging around 8.5% per transaction to send $200 during Q3 2020. Meanwhile, it costs around 5.8% of the transaction to send the same amount to Latin American regions.  The United Nations Sustainable Development Goals has recommended lowering the cost of transactions to 3% by 2030.

Nigeria, Ghana, and Uganda reportedly ranked 1st, 2nd, and 7th respectively in the world’s list of top 10 largest remittance recipients in the region last year, according to World Bank data. Remittance inflows for these countries was valued at $25 billion (or 43% of the total value of such payments in the region).

Tranglo’s network in these areas is supported by major online wallets, instant banking services, and cash pickups as well.

Meanwhile, remittance inflows to Brazil were valued at $3 billion last year. Despite projections of the global decline in remittance payments due to the COVID outbreak, Latin America has been fairly resilient, especially Brazil, which reported no contractions in growth during 2020.

With around three-fourths of remittance payments in Latin America originating from the United States, Tranglo had initially expanded operations to the North American markets via strategic partnerships with established players, which included integrating their international transactions infrastructure with Tranglo’s API.

Tranglo’s Brazil-based network includes direct bank transfers and cash pickups.

Tranglo’s single interface platform is supported by domestic and international partnerships, and it is currently accessible in more than 23 countries.

Jacky Lee, CEO at Tranglo, stated:

“It is just the first of many to come. We are already planning to expand into countries like Mexico and Argentina next, bringing our cross-border payment solutions to even more businesses in the region and beyond. We are also focusing on enhancing e-wallet support to stay ahead in the digital economy, so stay tuned for more exciting development this year.”

Source: https://www.crowdfundinsider.com/2021/02/172322-cross-border-payments-fintech-tranglo-continues-to-expand-operations-globally-to-support-local-businesses/

Crowdfunding

UK based P2P Lender Folk2Folk Says it’s Still Open to Retail Investors, with £400M+ Invested via Platform and Zero Losses

Avatar

Published

on

UK-based Folk2Folk, a P2P lender supporting local and rural businesses, notes that “shifting sands” within the peer to peer sector have left some retail investors “high and dry.” Folk2Folk reveals that some retail investors have been “abandoned” in favor of institutional investors. There have also… Read More

The post UK based P2P Lender Folk2Folk Says it’s Still Open to Retail Investors, with £400M+ Invested via Platform and Zero Losses appeared first on Crowdfund Insider.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://www.crowdfundinsider.com/2021/03/172779-uk-based-p2p-lender-folk2folk-says-its-still-open-to-retail-investors-with-400m-invested-via-platform-and-zero-losses/

Continue Reading

Crowdfunding

All Non-Essential UK Retail Businesses May Reopen from April 12, 2021, Funding Circle Confirms while Sharing Other Small Business Tips

Avatar

Published

on

Online lender Funding Circle (LSE:FCH) recently commented on what the roadmap out of the COVID-19 lockdown means for small businesses. On February 22, 2021, the UK government announced its “highly anticipated” four-phase roadmap out of the Coronavirus-related lockdown — and contained within it were several… Read More

The post All Non-Essential UK Retail Businesses May Reopen from April 12, 2021, Funding Circle Confirms while Sharing Other Small Business Tips appeared first on Crowdfund Insider.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://www.crowdfundinsider.com/2021/03/172783-all-non-essential-uk-retail-businesses-may-reopen-from-april-12-2021-funding-circle-confirms-while-sharing-other-small-business-tips/

Continue Reading

Crowdfunding

Australia Is Home to At Least 733 Active Fintech Firms, Up from 629 in September 2019: Report

Avatar

Published

on

Australia is currently home to at least 733 active Fintech firms, up considerably from 629 back in September 2019, according to the KPMG Fintech Landscape 2020 map. This represents an increase of 104 firms that joined the nation’s financial technology industry between September 2019 and… Read More

The post Australia Is Home to At Least 733 Active Fintech Firms, Up from 629 in September 2019: Report appeared first on Crowdfund Insider.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://www.crowdfundinsider.com/2021/03/172737-australia-is-home-to-at-least-733-active-fintech-firms-up-from-629-in-september-2019-report/

Continue Reading

Crowdfunding

Open Banking related Services are Now Key Focus Area for Professional Bankers Globally: Report

Avatar

Published

on

Banking software firm Temenos (SIX: TEMN) has released a report, titled “Open Banking: Revolution or Evolution?”, which was authored by the Economist Intelligence Unit (EIU) and it’s also based on a survey of more than 300 senior banking professionals. The report revealed that almost half… Read More

The post Open Banking related Services are Now Key Focus Area for Professional Bankers Globally: Report appeared first on Crowdfund Insider.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://www.crowdfundinsider.com/2021/03/172741-open-banking-related-services-are-now-key-focus-area-for-professional-bankers-globally-report/

Continue Reading
Esports3 days ago

PowerOfEvil on TSM’s Spring Split playoff preparation: ‘A lot of things are going to change in the next couple of days’

Gaming2 days ago

Betfred Sports, Represented by SCCG Management, Signs Multi-year Marketing Agreement with the Colorado Rockies

Blockchain1 day ago

‘Bitcoin Senator’ Lummis Optimistic About Crypto Tax Reform

Blockchain1 day ago

Dogecoin becomes the most popular cryptocurrency

AR/VR2 days ago

‘Farpoint’ Studio Impulse Gear Announces a New VR Game Coming This Year

Blockchain1 day ago

NEXT Chain: New Generation Blockchain With Eyes on the DeFi Industry

Aerospace3 days ago

Astra’s 100-year plan: Q&A with CEO Chris Kemp

Blockchain1 day ago

Bitcoin Price Analysis: Back Above $50K, But Facing Huge Resistance Now

Blockchain1 day ago

Billionaire Hedge Fund Manager and a Former CFTC Chairman Reportedly Invested in Crypto Firm

Cyber Security3 days ago

How you can get someone’s Snapchat password?

Blockchain1 day ago

Institutional Investors Continue to Buy Bitcoin as Price Tops $50K: Report

Esports3 days ago

How to download Pokemon Unite APK, iOS, and Switch

Payments3 days ago

4-parter on Coinbase “IPO” – Part 1 = 5 Reasons Why It Matters

Aerospace3 days ago

Partners produce rotor blade 3D-printed tool on Ingersoll 3D printer

Cyber Security3 days ago

Critical Vulnerability Discovered in a Firewall Appliance Made by Genua

Crowdfunding5 days ago

Verifi Reveals that Nearly $31 Billion Is Lost Yearly to Transaction Disputes, which May Be Reduced via “Proactive Management”

Automotive4 days ago

Rivian shares details on the R1T pickup’s clever battery heating strategies

HRTech3 days ago

Only 57% Indian employees feel GTL insurance cover by employer is sufficient

Blockchain3 days ago

Logan Paul Makes New NFT Pokemon Card Unboxing Highlights, Sells Out

Cyber Security4 days ago

Most Popular Software Trends for 2021

Trending