Instapay is a digital payment platform that reduces transaction costs and increases access for underbanked individuals and small to medium-sized enterprises (SMEs). It provides e-wallets and Mastercards as payroll solutions for low-income and unbanked migrant workers, allowing them to receive salaries digitally. The e-wallets enable cross-border remittances, bill payments, and mobile top-ups, while the Mastercard can be used globally for purchases and ATM withdrawals.
With the new funding secured, InstaPay aims to broaden its range of products and extend its geographical reach. The company also plans to update its technological infrastructure and foster ongoing innovation in cross-border payment solutions.
Representatives from InstaPay announced that the newly secured funds will help meet the working capital needs for business expansion. This additional financing will further accelerate growth in the rapidly evolving remittance sector. Furthermore, the company plans to launch B2B remittance services through the Glyd Corporate Expense Management Platform.
In April 2025, InstaPay partnered with Mastercard to improve cross-border payments for customers in Malaysia.This partnership enabled migrant workers living in Malaysia to transfer funds to their home countries in local currencies almost instantly. Mastercard Move offered a range of money movement features that facilitated person-to-person and business transactions to over 180 countries worldwide, supporting more than 150 currencies.
Predominantly, Malaysia's migrant workforce came from Indonesia, Nepal, Bangladesh, India, and the Philippines. With Mastercard Move, Instapay's users in these areas, including Pakistan, gained access to streamlined transfers to bank accounts, digital wallets, and cash pickup locations. Additionally, they were able to monitor payments, fees, and estimated delivery times.
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