Transpay adds new funding currencies

Cross-border payments platform Transpay now allows business to fund their accounts in 11 currencies.

The company, which enables businesses to complete mass payouts in more than 60 currencies across more than 120 countries now allows companies to fund their accounts in currencies including pounds, euros, Gambian dalasis, Filipino pesos, West African CFA francs, Japanese yen and Canadian, Singaporean, Hong Kong, Australian and American dollars. That eliminates the need for pre-settlement fund conversion.

“Globally, marketplaces and digital platforms often pay double conversion fees when sending bank wires, first from converting into USD or EUR and then to the local currency of the receiver,” Transpay CFO/COO Joe Tumbarello said. “Transpay is eliminating these fees to ensure that businesses operating in their local currencies are getting maximum value from each transaction.”

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