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April 11, 2022

Tranglo introduces new payment solution for businesses

Malaysian payment firm Tranglo has rolled out a new business payment solution, dubbed Tranglo Business, to enable businesses to send and receive global payments with enhanced speed.

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  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
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  • Regulations
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This solution is developed exclusively for corporates, specifically non-payment providers. These include e-commerce traders, cross-border travel agencies, global freelancing and outsourcing platforms, giggers and local vendors with regional suppliers and customers.

Small-and-medium enterprises are said to face operational and technical challenges while making and receiving international payments. The company claims that its new solution is designed to eliminate such issues by leveraging a single-interface technology.

Tranglo Group CEO Jacky Lee said: “We developed Tranglo Business to help enterprises address their payment pain points. Our aim is to help them choose the most cost-effective way to send and receive money without sacrificing speed and security.

“As part of our guarantee of excellence, customers need to complete an onboarding process in Singapore before they can access Tranglo Business and its full suite of features.”

Claimed to be an all-in-one business payment solution, Tranglo Business will provide services such as FX and wallet management as well as multi-currency support and AI-assisted compliance screening to users.

Additionally, users will be able to customise their payments using intelligent routing, API integration, and adjust approval management for different users.

It also offers volume discounts and special rates, while full transaction reports can be generated to ease reconciliation and account keeping.

Last November, Tranglo expanded its global remittance network with the launch of its cross-border payment corridor to Mongolia.

In March last year, Blockchain payments firm Ripple signed a deal to acquire a 40% stake in Tranglo to boost the reach of its ODL solution.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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