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InstaReM launches its services in Canada

Thursday 19 September 2019 13:26 CET | News

InstaReM, a Singapore-based cross-border payments provider, has launched its services in Canada to deliver streamlined digital money transfers.

InstaReM is registered as a Money Service Business with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to remit and transmit funds out of Canada.

The launch of the digital money transfer service aims to help individuals and businesses in Canada to send money to over sixty countries, including the UK and the US, with InstaReM’s Zero-Margin and Low-Fee international money transfers.

Canada is one of the leading remittance-sending countries in the world, which is attributed to the large expat population from different parts of the world. In 2017, as much as USD 24.6 billion was sent out of Canada in remittances, with countries like China (USD 4.14 billion), India (USD 2.88 billion), the Philippines (USD 2.37 billion), France (USD 1.23 billion), and Italy (USD 1.07 billion) being the top recipients, according to the World Bank.

Now, registered users in Canada can utilise InstaReM’s services both on the website and on the mobile app. InstaReM is ranked by the World Bank as one of the lowest cost operators in a number of corridors in APAC.


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Keywords: InstaReM, cross-border payments, payments provider, launch, Canada, money transfers, remittance
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Countries: World