Instapay teams up with Mastercard to optimise cross-border payments

Through this collaboration, migrant workers residing in Malaysia are set to be able to transfer funds to their home countries in local currencies in near real-time. Mastercard Move is a portfolio of money movement features supporting person-to-person and business transactions to over 180 countries globally in more than 150 currencies.

How will Mastercard Move facilitate money transfers for migrant workers?

Predominantly, Malaysia’s migrant workforce originates from Indonesia, Nepal, Bangladesh, India, and the Philippines. Through Mastercard Move, Instapay’s users in these regions, as well as in Pakistan, are set to be able to benefit from simplified transfers to bank accounts, digital wallets, and cash pickup locations. At the same time, they can track payments, fees, and estimated delivery times. Initially, Instapay plans to roll out these Mastercard Move features to individual customers in the second quarter of 2025. In the long term, the company intends to expand to corporate clients as well.

Furthermore, by deepening its collaboration with Mastercard, Instapay is set to be able to utilise the company’s global payment network and cross-border transfer knowledge, in turn improving its remittance service for customers and making it more secure and efficient. Commenting on the news, representatives from Instapay mentioned their company’s commitment to utilising technology to optimise transactions, increasing their efficacy and minimising the cost per transaction. Additionally, Mastercard Move uses Mastercard’s card and non-card networks and cybersecurity solutions to enable Instapay users to benefit from more transparency, choice, and fraud protection. Through this, the two companies seek to support Malaysia’s migrant workforce, providing it with the tools and solutions it requires.

Besides Instapay, MoneyGram also recently integrated Mastercard Move to augment digital money transfers and scale the accessibility and efficiency of cross-border and domestic transactions. As part of the alliance, MoneyGram users with US-issued Mastercard cards were set to be able to send funds internationally to 38 receiving markets. Moreover, the integration focused on facilitating fund receipt through approximately 10 billion endpoints globally.