Seoul, South Korea: GmoneyTrans, Korea’s online money transfer startup, has combined forces with Tranglo to launch mobile remittance service in Korea. With this collaboration, migrants around the world can now send money through their mobile devices to and from Korea using the GmoneyTrans app.
Immigration to the country has been increasing over the past decade to combat an aging population and low fertility rates to meet the demand for workers. There are 1.5 million registered foreign nationals, just under 3 percent of the population of 51.5 million. In 2016, South Korea received US$6.4 billion and sent out US$5.7 billion in remittance.
“We’re excited to partner with GmoneyTrans to make remittance easier for the people of Korea, especially migrant workers and those living overseas. We believe through our platform, they will be able to offer more cost effective ways for their customers to transfer money back home,” says Sia Hui Yong, Director of Tranglo.
Speaking on the occasion, GmoneyTrans CEO, Mr. Kim Jong Moo said: “Remittance should be embedded in consumer’s daily life and we are excited to collaborate with Tranglo who has a strong network base to serve the diaspora around the globe. We are sure that this partnership will add value to thousands of customers base.”
Tranglo is a global cross-border payment processing hub that supports business payments, mass payout, payment collection, money transfer and mobile top up with offices in Kuala Lumpur, Jakarta, Dubai and London. Our service spans across more than 100 countries, serving over 250 mobile operators, 100 billers, 600 banks/wallets and 90,000 cash pickup outlets. Founded in 2008, Tranglo is a proven partner with a 10-year track record of success. For more info on Tranglo, please visit www.tranglo.com, www.linkedin.com/company/tranglo or www.facebook.com/tranglo
As one of the first movers in South Korean remittance industry, GmoneyTrans aims to provide easy, secure, fast and affordable remittance experience to customers, offering a wide range of money transfer services including cash transfers and bank transfer through their outlets, mobile app & remit card. In a very short span of service inception, GmoneyTrans has witnessed exponential growth and is one of the sought-after remittance firm in South Korea. For more info, please visit www.gmoneytrans.com or https://www.facebook.com/GmoneyTrans/