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InnoCentive selects Transpay for e-payment services

Friday 23 October 2015 13:01 CET | News

Transpay, a cross-border payments platform, has partnered InnoCentive, a crowdsourced innovation and software platform, to power the domestic and international payments processing for InnoCentive.

Transpay will streamline payouts to InnoCentive’s winning Solvers, with award values ranging from USD 5,000 to more than USD 1 million. Regulated and licensed as a payments institution in 120+ countries, Transpay is a Fintech company that provides companies with compliant processes to ensure secure money movements.

Transpay, headquartered in New York City, is a B2B/B2P cross-border payments platform with the world’s largest, independent payment network worldwide. The company’s platform uses technology to enable instant transfers across the global proprietary network. Funds are delivered in local currency either to a recipient’s bank account or a preferred cash pick-up location. Transpay is backed by GCP Capital Partners, a USD 1.8 billion private equity fund led by investors in the payments industry.

InnoCentive crowdsources innovation solutions from people around the globe, who compete to provide ideas and solutions to important business, social policy scientific challenges. Our global network of 365,000 problem “Solvers”, coupled with our Challenge Driven InnovationTM methodology and cloud based innovation management platform, we help companies transform their economics of innovation through solution delivery and the development of sustainable open innovation programs.


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Keywords: InnoCentive, Transpay, on line payments, ePayments, services, partnership, deal
Categories: Payments & Commerce
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Countries: World
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Payments & Commerce






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