UniTeller, an international cross-border and remittance payments processor based in the United States, has extended its remittance services to more customers in Asia Pacific by partnering with Tranglo, one of the leading cross-border payment service providers in the region.
Asia remains the region with the largest share of remittance inflows in the world, with India being the top remittance receiving country in 2020 and since 20081. UniTeller has had a presence in Asia for two decades and has been rapidly expanding its network to cover more than 90,000 paying locations in the region.
The partnership with Tranglo will allow UniTeller to further expand its services in 13 Asia Pacific markets including Bangladesh, India, Indonesia and Nepal, adding more than 58,000 cash pick-up points, more than 1,100 account deposit banks and 9 e-wallet platforms to its existing paying network.
“This partnership with Tranglo is a great step forward in our expansion plan for Asia Pacific this year,” said Alberto Guerra, chief executive officer of UniTeller. “Collaboration has always been an important part of our strategy. By partnering with like-minded cross-border payments companies, we can integrate international paying networks and combine our technological strength and local market knowledge to make an even greater impact on the industry than what each of us can achieve individually.”
“Globally, remittances remain resilient in the current environment with Asia registering the largest volume in remittances which is crucial to support the livelihood needs of people in low to middle-income countries,” said Jacky Lee, CEO of Tranglo. “As a cross-border payments processor rooted in Asia, we are excited to work with UniTeller to expand and enhance remittance channels in the region.”
The collaboration also gives UniTeller access to RippleNet, the global financial network of Ripple. A leading provider of enterprise solutions for cross-border payments, Ripple agreed to acquire a 40% stake in Tranglo in March 2021.
About Tranglo
Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittance and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, Dubai and London. Our global network spans more than 100 countries, 2,500 mobile operators, 1,300 banks/wallets and 130,000 cash pickup points. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We now offer enhanced cross-border payout services with an even wider coverage through RippleNet, Ripple’s global payment network. To find out more, visit www.tranglo.com.
About UniTeller Financial Services Inc.
UniTeller Financial Services Inc. is a U.S. based Cross Border Payments Company and one of the market leaders offering digital and electronic Cross-Border Payments Processing Services. Recognized as a top 100 Cross Border provider by the British firm FXC Intelligence, UniTeller offers a unique digital and cross border payment platform. With a single integration, Financial Institutions, Banks, Fintechs and Money Transfer operators can access a global distribution network to more than 80 countries around the world. To find out more about UniTeller, visit www.uniteller.com.