Tranglo Expands Instant Cross-Border Payments to Over 30 eWallets
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eading fintech specialist Tranglo has announced an expansion of its cross-border payment network, enabling instant and direct transfers to more than 30 eWallets.
Tranglo's direct-to-wallet transfers eliminate the need for intermediaries, making remittances more accessible by ensuring funds are available to recipients immediately. This is especially important for millions of rural recipients, who often lack access to traditional financial institutions. Receiving money through eWallets, which stay open 24/7, is a reliable and convenient alternative.
Surge in eWallet Transactions
Tranglo Group CEO Jacky Lee highlighted the growing trend of cross-border transactions to eWallets, stating, "Our data shows that cross-border transactions to eWallets have doubled since 2021. Across the board, eWallet payouts are outpacing banking channels this year, with some corridors, like GCC to Pakistan, experiencing a surge of nearly 400% in transactions." He further emphasized the growth opportunity presented by eWallets, citing an example of a UAE partner who saw an 8-fold increase in transactions to Pakistan and Indonesia after adding Tranglo's eWallet payout service.Expanding Global Reach
Tranglo's direct-to-wallet transfers are currently available in Bangladesh, Cambodia, China, Indonesia, Nepal, Pakistan, the Philippines, and Vietnam, with plans to expand to more countries in the future. The company's global network spans over 100 countries, 250+ mobile operators, 1,500+ banks/wallets, and 60 cash pickup services with thousands of touchpoints.eWallet Market Growth
Digital wallets have experienced exponential growth, especially after the pandemic. The global eWallet market, valued at USD 9.55 billion in 2023, is expected to grow at a CAGR of 28%, with Asia Pacific holding the largest share by region at 32.3%. By 2026, more than 60% of the world's population is projected to use an eWallet.Tranglo Connect: Seamless Cross-Border Payments
Tranglo helps financial institutions and businesses make payments through Tranglo Connect, its proprietary cross-border payments solution. With direct API connectivity, Tranglo Connect seamlessly integrates payout and partner services, enabling companies to make payments to over 80 countries reliably and securely.Conclusion
Tranglo's expansion of its cross-border payment network to over 30 eWallets demonstrates the company's commitment to making remittances more accessible and convenient for recipients worldwide. As the eWallet market continues to grow, Tranglo is well-positioned to capitalize on this trend and further enhance its global payment capabilities through partnerships and innovative solutions like Tranglo Connect.
✔️ Tranglo Expands Instant Cross-Border Payments to Over 30 eWallets
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