Cross-border payments firm, Tranglo announced the launch of a business payment solution today. Dubbed ‘Tranglo Business’, the new solution will help businesses receive and send global payments efficiently and quickly.
According to Tranglo, its new service will support a broad range of businesses, including e-commerce traders and local vendors. Founded in 2008, Tranglo has a strong presence in Asia’s payments ecosystem.
Last year, Ripple acquired a 40% stake in Tranglo. The financial services provider recently announced the expansion of Ripple’s ODL services. Tranglo enabled Ripple’s on-demand liquidity service across its different payment corridors.
Tranglo noted that the recently launched Tranglo Business has been introduced to help organizations scale their operations through lower costs.
"We developed Tranglo Business to help enterprises address their payment pain points. Our aim is to help them choose the most cost-effective way to send and receive money without sacrificing speed and security. As part of our guarantee of excellence, customers need to complete an onboarding process in Singapore before they can access Tranglo Business and its full suite of features,” Tranglo’s Group CEO, Jacky Lee commented.
In August 2021, Tranglo received new approvals from the Monetary Authority of Singapore (MAS) to provide account issuance, domestic money transfer and e-money issuance services.
Tranglo Business
The company’s new solution allows customers to customize their payments through intelligent routing. With offices in Kuala Lumpur, Singapore, Jakarta, Dubai and London, Tranglo has enhanced its services substantially in the past few months through a partnership with Ripple.
“Tranglo Business provides an all-in-one business payment solution from FX and wallet management to multi-currency support and AI-assisted compliance screening. Customers can customize their payments using intelligent routing, API integration, and even approval management for different users. It also offers volume discounts and special rates, while full transaction reports can be generated to ease reconciliation and account keeping,” the company highlighted.
