When sending funds internationally, businesses often incur high currency conversion fees and bank landing fees and experience slow delivery times. Transpay eliminates these fees and speeds clearing time by developing direct relationships with banks worldwide. Read on to learn more about the features that make our network stand head and shoulders above the rest.

 

A Global Proprietary Network

Our network is comprised of direct relationships with each of the banks and payout partners in the network. The network, developed over a 30-year period, provides Transpay with a single global processing system into which funds flow, as well as our in-house liquidity, compliance and treasury functions.

 

Flexibility

One of the key attributes of Transpay’s network is flexibility. Businesses easily connect with us via our API, which we also customize if a business has particular requirements. We offer that same flexibility to our bank and payout partners, who can connect via our API, which can be adjusted to suit the partner’s needs, or the partner’s own. That’s part of how we stay nimble and are able to continually add partners to our network in the countries where our business clients need to send funds.

 

Straight-Through Processing

It’s not uncommon for a wire transfer to make “hops” at other banks along the way to its destination. So, for example, if a business sends funds through Citibank to Bancomer in Mexico, the funds may make a stop at Chase, who then charges a landing fee as it sends the funds on to Bancomer. Our network provides direct accessibility to our bank and payout partners – in fact, more than 99 percent of Local Bank Transfers sent via our network are accomplished via straight-through processing.

 

Guaranteed Rates

Businesses can often be challenged by the uncertainty created by currency fluctuations when sending funds internationally. Transpay eliminates that uncertainty by offering guaranteed rates, so our business clients know how much their Local Bank Transfers will cost. What’s more, our in-house treasury team is constantly monitoring rates to ensure that Transpay buys at the best rates and passes those on to our business clients.

 

Speed, Breadth and Depth

Thanks to straight-through processing, the clearing time for transfers sent through our network is much faster than for bank wires. The breadth of Transpay’s global proprietary network is such that it supports payouts to more than 95 percent of bank accounts worldwide, in 60+ currencies. And in any given country, there is never a single payout partner or bank partner. Rather, we build relationships with multiple partners in each country, so that we can ensure that your payouts reach their destination in a timely manner that is convenient to your recipients. 

 

Download Our Guide

Article Categories:
Related articles
Advertising And Affiliate Networks

Increase Publisher and Affiliate Satisfaction and Loyalty With Local Bank Transfers

At first glance, cost-effective and efficient payout options including Local Bank Transfers might not seem to be an obvious driver of brand loyalty for affiliate and...

Local Bank Transfers

5 Ways Transpay Can Transform Your Cross-Border Payments

News of the recent acquisition of Transfast by MasterCard has brought growing attention to our network and products. We thought we’d answer some of the common questions...

Recipient Experience

Doing Business in Bangladesh

Bangladesh, lush and green, is crossed by 700 rivers and is famous for its tigers and mangrove forests. When it comes to the digital economy, Bangladesh is one of the top...

Local Bank Transfers

Despite the Focus on Front-End Experience, the Back-End Network Still Matters

More than five years ago, Fintech companies, backed by venture capital firms, arrived on the payments industry scene, with the stated goal of transforming the financial...

Subscribe to the latest updates on Sending Payouts.