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TNG Digital partners with Tranglo to expand remittance services

Monday 7 August 2023 10:22 CET | News

Malaysia-based TNG Digital, owner and operator of the Touch ‘n Go eWallet, has partnered with cross-border payment hub Tranglo.

 

This joint venture seeks to enable TNG Digital to expand its cross-border remittance services. To do so, the Malaysian fintech will reportedly leverage Tranglo’s network as well as infrastructure to enable its customers to send money from GOremit on the Touch ‘n Go eWallet to payees from ten countries: Indonesia, the Philippines, Singapore, Thailand, Vietnam, Bangladesh, India, Nepal, Pakistan, and Sri Lanka.

According to the press release, this is the first step in a larger effort by the company, as the fintech plans to further expand the reach of these services by offering them in other countries as well. 

When commenting on the latest announcement, a representative from Tranglo expressed their delight in improving the remittance options of Touch ‘n Go eWallet by incorporating their last-mile delivery solution. They mentioned that the ten countries selected for sending remittances are top corridors with dependable payment channels. They also explained that their API would autonomously choose the best payout techniques and connections to provide immediate transactions.

Similarly, an official from TNG Digital emphasised that the involvement of GOremit in remittance plays a vital role in driving their financial inclusion agenda. They further added that working alongside a partner who has a clear understanding of their vision is crucial. They also believe that the partnership with Tranglo will serve as a catalyst to further their mission by servicing remittance users.

TNG Digital and Tranglo announced they have started a collaboration aimed at expanding TNG Digital’s remittance offering.

 

What do TNG Digital and Tranglo bring to the table?

TNG Digital’s Touch ‘n Go eWallet has over 20 million registered users and it is reportedly regarded as one of the fast-growing eWallets  in Southeast Asia. Its multi-faceted payment platform enables users to make instant cashless transactions at more than 1 million merchant touchpoints nationwide for payments, including tolls, food, bills, online shopping, car insurance, and peer-to-peer transfers. What is more, the Touch ‘n Go eWallet is addressed to retail users, as well as small to mid-sized businesses.

Tranglo enables financial institutions as well as businesses to pay via its proprietary cross-border payments solution, Tranglo Connect. Its product, which makes it possible for companies to make payments to more than 70 countries, purportedly integrates payout and partner services, thus unifying the end-to-end payment process with direct API access. 

The company’s network has a global reach that spans over 150 countries, 5,800 mobile operators, 2,200 banks and wallets, as well as 140,000 cash pickup points. Tranglo is also a partner of Ripple, an enterprise blockchain product used for global payments.

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Keywords: partnership, expansion, remittances, cross-border payments, payments , digital payments, digital wallet, merchants, fintech, paytech
Categories: Payments & Commerce
Companies: Touch ’n Go, Tranglo
Countries: Asia, Malaysia
This article is part of category

Payments & Commerce

Touch ’n Go

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Tranglo

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