Transpay expands B-to-B services to fuel tourism, cross-border payments
Eyeing sectors with increased independent work forces and growing tourism, cross-border payments provider Transpay says it is making its business-to-business mass payout platform available in Australia, New Zealand and South Africa.
Transpay clients will now be able to send local currency payouts directly into bank accounts in these countries.
New York-based Transpay unveiled its mass payout option for businesses in 2015, allowing B-to-B payments to be made to an e-mail address or phone number.
It was a logical digital payments move for Transpay at that time, because the company has focused on helping clients make faster cross-border payments to vendors, business partners and freelancers in more than 100 countries.
"As the 'new' economy evolves at an incredible pace, Transpay is committed to expanding its platform's reach and capabilities to better serve the growing cross-border payment needs of clients," Peter Shore, general manager at Transpay, said in a Thursday press release.
As online marketplaces, travel agencies and nascent e-commerce businesses continue adapting their digital payments, Transpay enables them "to scale, streamline and evolve so they can continue meeting customer demand, no matter where they are in the world," Shore added.
Transpay cites current data from the World Bank and the International Labor Organization as supporting its plans to expand. Self employment rates in Australia, New Zealand and South Africa range between 14.4% and 17.6%, according to the data.