Cross-border payments platform Transpay has expanded its direct-to-bank deposits offering to Australia, New Zealand, and South Africa.

The move enables clients of Transpay to send local currency payouts directly into bank accounts in the three countries.

Through the move, the firm aims to address the rise in tourism across the three countries.

According to Tourism Australia data, Australia reported 8.7 million international visitors in the year ending October 2017, while data from Tourism New Zealand cited a 7.5% increase in visitors in 2017. Meanwhile, South African Tourism predicted a 13% rise in tourist arrivals in 2017.

Transpay general manager Peter Shore said: “As the ‘new’ economy evolves at incredible pace, Transpay is committed to expanding its platform’s reach and capabilities in order to better serve the growing cross-border payment needs of its clients.

“As online marketplaces, travel agencies, and nascent e-commerce businesses continue adapting their digital payments, we enable them to scale, streamline and evolve so they can continue meeting customer demand, no matter where they are in the world.”

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