Addition of new corridors coincides with strong freelancer sectors and growing tourism industries.
New York - February 22, 2018 – Transpay, the cross-border payments platform, today announced the expansion of its service offering to include local bank transfer deposits in Australia, New Zealand, and South Africa. Transpay clients are now able to send local currency payouts directly into bank accounts in these countries.
According to 2017 data from the World Bank and International Labor Organization, self-employment rates in Australia, New Zealand, and South Africa range between 14.4 and 17.6 percent. As professional services continue to globalize with the rise of online marketplaces, the ability to receive mass payments from overseas partners without excessive or unexpected transaction fees presents an economic benefit to individuals, businesses, and their national economies alike.
As the ‘new’ economy evolves at incredible pace, Transpay is committed to expanding its platform’s reach and capabilities in order to better serve the growing cross-border payment needs of its clients. As online marketplaces, travel agencies, and nascent e-commerce businesses continue adapting their digital payments, we enable them to scale, streamline and evolve so they can continue meeting customer demand, no matter where they are in the world.
Transpay’s extended offering also coincides with a sharp rise in tourism across all three countries that signals opportunity for travel agencies based in other nations like the United States. Australia welcomed 8.7 million international visitors in the year ending October 2017, up 7.1 percent over the year prior according to data from Tourism Australia. Tourism New Zealand also reported a 7.5 percent rise in visitors in 2017, while South African Tourism forecast a 13 percent jump in tourist arrivals for 2017 back in July.
Through Transpay, businesses of all sizes are able to send mass payouts to local banks in over 200 countries without incurring the high fees and inefficiencies associated with wires, e-wallets, and cards.
Transpay is a service from Transfast, a leading global payments company with more than 30 years of operating history. Transfast processes over $8 billion USD in annual payment volumes. Transpay provides businesses of all sizes with a scalable, secure, and fully compliant cross-border mass payout solution, making it easy to send funds directly to the local bank accounts of vendors, business partners, freelancers or others, reaching over 95 percent of the world’s bank accounts. To learn more, visit www.transpay.com.