Malaysian fintech company Tranglo has announced a collaboration with leading payments and lifestyle platform Alipay to provide cross-border remittance services.
As per this, Tranglo will facilitate cross-border remittances to users of Alipay, who will be able to receive quick and secure money transfers within the app.
Tranglo expects the collaboration to benefit migrant workers around the world, particularly in Asia, where the cross-border payment hub has a foothold in the remittance market through local partners.
Alipay is operated by Ant Financial, the payments affiliate of Alibaba Group. Alipay currently serves more than 1.2 billion users around the world, together with its local e-wallet partners.
Also Read: Malaysia’s PE firm Ekuinas sells its stake in Tranglo to Hong Kong’s TNG for US$27.5M
Clara Shi, Alipay’s Head of the Global Remittances Business, said. “We are committed to working with partners such as Tranglo, using innovative technologies to help global consumers gain access to inclusive financial services, creating greater value for society and bringing equal opportunities to the world.”
Founded in 2008, Tranglo is a cross-border mobile transaction gateway company that facilitates airtime transfer and money remittance transactions in Southeast Asian countries, Hong Kong and China. Its global network spans more than 100 countries, 250 mobile operators, 50 billers, 600 banks/wallets and 130,000 cash pickup points.
The firm has offices in Kuala Lumpur, Jakarta, Dubai and London.
Ant Financial recently applied for a digital wholesale banking license in Singapore.
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