Fintech Firm Partners Alipay for Remittances

Tranglo will facilitate cross-border remittances to users of Alipay, who will be able to receive quick and secure money transfers within the app. Southeast Asian Fintech company Tranglo is partnering payment and lifestyle giant Alipay on cross-border remittances, the firm announced on Thursday on its blog.

Tranglo said the service enables more inclusive money transfers across borders to a range of customers and hopes the service will be able to benefit Asian migrant workers, who frequently send money back home. The company already has a number of partnerships with local partners.

Tranglo called it a significant milestone, noting Alipay’s user base of more than 1.2 billion customers globally, together with its local e-wallet partners.

Founded in Malaysia in 2008, Tranglo operates a cross-border payment hub that provides smart services for mobile airtime top-ups, as well as foreign remittance and business payments.

The firm’s remittance service works in 21 currencies and has 1,300 payout partners. As of 2019, it has processed $4.66 billion in transfers, according to its website. The company has offices in Kuala Lumpur, Singapore, U.A.E., London and Jakarta.