Inpay, one of Europe’s fastest growing fintechs, is facilitating the rapid European expansion of world-leading payments service provider (PSP) Tranglo by providing Instant SEPA (Single Euro Payments Area) across Europe.
The positive results of the partnership are already clear: transfer speeds have drastically improved from days to minutes and costs have been significantly reduced. Make global payments as quick and easy as local bank transfers.
Starting with 12 key SEPA countries at launch, the partnership provides Tranglo with the technical and regulatory infrastructure to scale its cross-border payout offering to an additional 24 European countries through a single integration. The partnership is part of Inpay’s broader global expansion plans in 2024, particularly in Asia, where Inpay sees huge opportunities. Partnering with one of the region’s leading PSPs is testament to this ambition.
Thomas Jul, CEO of Inpay, comments: “It is rare to find a company and a CEO who share the same values, but that is exactly what we have found at Tranglo.” Like Tranglo, Inpay was founded in 2008 after the The need was recognized to make cross-border payments just as quickly and securely as domestic bank transfers. This is a significant partnership that will not only enable Tranglo to expand rapidly across Europe, but also provide Inpay with an important strategic presence in Asia.”
Headquartered in Malaysia, Tranglo is a global leader in intelligent top-up, remittance and business payment services across more than 100 countries across its global network. Inpay was selected as its partner of choice due to its extensive in-house expertise in navigating the highly regulated European payments market.
The right partner to support scalability
Regulated by the globally trusted Danish FSA, compliance is at the heart of Inpay’s offering. It provides the industry-leading risk management and local expertise that Tranglo sees as mission-critical to its global expansion efforts. The partnership will enable Tranglo to offer cross-border, multi-currency payments to B2B and B2C customers in SEPA countries at a lower cost than traditional SWIFT transfers or bank payment rails.
The partnership has reduced transaction speed for Tranglo customers from T+2 (two days) to T+0 (60 seconds). Inpay forwards the full amount of the transfer without deductions, ensuring customers have full visibility of fees – with consistent and reliable transfer times across a global network spanning 70 countries, which customers like Tranglo can access via a single, easy API connection.
Jacky Lee, CEO of Tranglo Group, comments: “We can be very selective when choosing our partners. Common goals, chemistry and culture are very important to us. When we visited Inpay’s Copenhagen office at the start of the partnership, we saw all this and more.”
“We were looking for a partner who had a robust risk management approach, was licensed and had extensive experience in the European regulatory environment. We immediately had confidence that Inpay could handle complex operations, manage risk and provide the type of traceability and transparency that regulators and financial firms expect.”