InstaReM expands into Malaysia
By Digital News Asia November 29, 2017
- Customers in Malaysia transfer money to over 60 countries
- InstaReM will start its India operations in December 2017
INSTAREM, a digital cross-border payments company, has announced its expansion into Malaysia, further solidifying its presence in the Asia Pacific.
Headquartered in Singapore, InstaReM is one of the largest cross-border payments providers globally, with licenses in eight markets and covering 40 countries, reaching 3.2 billion people in developed and developing countries.
It is consistently ranked by the World Bank as the lowest cost operator in a number of corridors in the Asia Pacific.
Individual and corporate customers in Malaysia will now be able to enjoy cost-effective and efficient cross-border money transfers to over 60 countries across the globe.
Compared to traditional players like banks and MTOs, InstaReM charges a transparent transfer fee based on a small percentage of the amount transferred.
The firm previously expanded its footprint into the European Union with the opening of an office in Lithuania in September 2017.
InstaReM will also start its India operations in December 2017, following recent approval from the Reserve Bank of India (RBI).
InstaReM is recognised in the fintech space for its innovative solutions. Earlier this month, the company bagged two fintech awards. It was a winner of the MAS Fintech Award at Singapore Fintech Festival, and it also won the Fintech Rising Star Award at the India Fintech Awards (IFTA) 2017.
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