SINGAPORE – Media OutReach – 26 November 2018 – Singapore-based cross-border payments company TranSwap has launched its proprietary platform to help SMEs streamline their payment processes and seamlessly make FX payments at the most competitive rates. As SMEs are increasingly transcending geographical borders and going global, TranSwap’s platform allows businesses to make payments to over 45 countries. SMEs can also choose to integrate with TranSwap’s API for full automation of multiple transfers.
TranSwap helps businesses to seamlessly manage and execute payments globally while reducing FX costs and complexity. The FinTech platform offers the most competitive rates through its proprietary online transaction portal and wide network of FX Partners to enable businesses to fulfil payments overseas at the lowest cost efficiently.
TranSwap is an onboarded Value-Added Service (VAS) Provider on the Networked Trade Platform (NTP)
Cross-border payments provided by TranSwap are now available on the NTP VAS listing. As a NTP VAS provider, TranSwap is part of the vibrant trade ecosystem that is the NTP — a Singapore Government initiative. TranSwap offers importers and exporters seeking to make payments internationally a cost-effective and convenient solution.
Commenting on the launch, Mr Benjamin Wong, co-founder and CEO of TranSwap shared:
“As an industry valued at over US$ 500 billion, coupled with the rise of fintech and increasing business adoption, cross-border remittance industry is poised to be the next big thing in Singapore, where businesses are constantly looking for alternative ways to make international payments.
With the launch of our proprietary API, TranSwap helps businesses remit funds across borders easily and quickly. Our online platform helps businesses to seamlessly manage and execute payments globally while reducing FX costs and complexity. I’ve seen how businesses are often exposed to slow and costly transfers. Our aim is to make your money transfer cost-effective and convenient.”
Launched in 2017, TranSwap has now offices in Singapore, Hong Kong, Malaysia and Indonesia, and have plans to have presence in the United Kingdom, Europe, and other countries in the Asia Pacific region. Soon, TranSwap will be able to process all major currencies to over 60 countries. Currently, TranSwap customers can send money to more than 45 countries.
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