The following is a transcript of the podcast episode

Ryan McEndarfer, Editor-in-chief at PaymentsJournal.com

Welcome to the PaymentsJournal podcast. I’m your host Ryan Mac. On today’s episode, we’re going to be talking with Peter Shore, General Manager of Transpay, about the Digital Women Survey conducted by Transpay. Peter, welcome to the podcast.

Peter Shore, General Manager of Transpay

Thank you, Ryan. Happy to be here.

Ryan McEndarfer, Editor-in-chief at PaymentsJournal.com

Why don’t you give us an introduction to Transpay and its role within the payments industry?

Peter Shore, General Manager of Transpay

I sure will, Ryan. Transpay, is a payout company. We handle mass payouts for enterprise companies to make cross-border transactions globally for whomever they need to pay. Think of us as the accounts payable for a large marketplace, for a development company that needs to hire offshore workers or has an offshore payroll, or an obligation and voice offshore. We handle collecting those funds for those companies and in a mass distribution way paying people globally. In our specialty, we focus a lot on emerging markets, so we dig deep there. That’s the core of what we do. We feel really fortunate that we were able to partner with the Business Council for International Understanding to get this survey done.

Ryan McEndarfer, Editor-in-chief at PaymentsJournal.com

How does Transpay differentiate itself in making those payments in the marketplace?

Peter Shore, General Manager of Transpay

Transpay has built a proprietary network, a direct-to-bank network. So we have bank relationships all over the world, directly relationships that we own, so we are able to process in the same time, the same day to real time, directly into about 90% of global bank accounts. We can bypass middlemen and know exactly the rates and fees. And so there’s no surprises in our service. It’s “What you see is what you get” as far as pricing goes. Funds end up in the person’s bank account very, very quickly and exactly what they expect.

Ryan McEndarfer, Editor-in-chief at PaymentsJournal.com

Transpay published its Digital Women Survey, which assesses the benefits and challenges faced by women using online platforms to engage customers in other countries. Why did you conduct this survey now, and which findings were the most compelling?

Peter Shore, General Manager of Transpay

We decided to do the survey now as the digital economy has been growing hand over fist with freelancers and developers globally in a cross-borders scenario. We wanted to dive in deeper as we feel that in certain countries, there is less opportunity for women to have substantial roles in the workforce. We wanted to dig a little deeper and compare that against a survey that we compiled in the U.S. as well to be able to compare against the U.S. workforce. We thought the timing was good due to the growth that’s happening in this space. I think the most interesting things that we found in the survey were that 97 percent of the women freelancers in the U.S. and 67% of those in India identified the digital channel employment as a beneficial source for their financial well-being, so they view it as important for them to be able to get ahead. I think another one that is particularly interesting is that 40 percent of Indian respondents cite the ability to earn more via the online channel than they have as opportunity within country. So by outsourcing or being hired by an outsourced opportunity offshore, they are able to create more income for themselves and more fulfilling work that suits what they like to do.

 

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