New York, July 31, 2014 (GLOBE NEWSWIRE) -- Transpay, a leading cross-border payments service, today launched an instant payments capability for freelance providers in the crowd-source marketplace, e-commerce companies, credit card processors, and others seeking to make international payments. The service enables instant direct deposit of funds to bank accounts across India, the Philippines, and Mexico, as well as account deposits made within a few hours directly to banks in more than 100 countries including Brazil, Russia, China, Pakistan, Bangladesh, Sri Lanka, Indonesia, Vietnam, Nigeria, and Kenya.
Transpay's service is user friendly, fully-compliant, and easy to implement. These benefits make Transpay more attractive compared to competing cross-border payment options offered by banks, pre-paid card schemes, and traditional money transfer companies.
Nagarajan Rao, Transpay's Vice President of Payments, believes the new service will deliver significant benefits to different types of companies operating in an ever more global marketplace: "Businesses across the globe--whether in Palo Alto or Pune--increasingly are engaging in commerce in the virtual global square and need to move funds. Transpay helps these global buyers and sellers move funds faster and more conveniently."
About Transpay:
Transpay is an international money disbursement platform built to perform rapid funds movement between a sender and receiver through a seamless single point connection. Transpay addresses the core payout needs by delivering funds directly to a beneficiary's local bank account through a proprietary network of 10,000+ banks around the world. The Transpay platform connects the sender to billions of receivers directly without upfront investment in resources and with rapid time to market. Transpay supports Person-to-Person (P2P), Business-to-Person (B2P), and Business-to-Business (B2B) types of transactions. Transpay's payout network covers North America, South America, Western, Central, and Eastern Europe, Africa, Asia totaling 100+ countries.