 |
| TranSwap enables Hong Kong and Singapore companies to open virtual accounts in Europe |
|
 |
Cross-border
remittances can be a hassle for businesses, especially for SMEs. The
fees are high, the rates may not be favourable, and the process
cumbersome and slow.
Smart-Space company TranSwap is
a cross-border payments platform licensed in Singapore, Hong Kong, and
Indonesia, dedicated to allaying these pain points for businesses
clients. It enables customers to seamlessly manage and execute payments
globally and enjoy reduced FX costs and complexity. With a proprietary
online transaction portal and a wide network of FX partners in more than
180 countries, the company makes cross-border payments cheaper, faster,
safer, more transparent, and more convenient.
Recently, TranSwap launched a new offering called the Global Borderless Virtual Account.
This service allows customers to open virtual bank accounts in the US,
the UK, and the European Union without having to establish physical
entities there. Users can conveniently hold 34 currencies, collect
payments, convert foreign currencies, and send cross-border payments to
more than 180 countries.
The company is also working on a suite of financial
automation tools to assist in the management of account receivables and
account payables. Customers will be able to seamlessly consolidate and
generate invoices and manage expenses from multiple accounts on
TranSwap’s platform to gain greater control over their business
finances.
Security and regulatory oversight features are baked in.
Additionally, customer funds are deposited into segregated accounts and
do not form part of TranSwap’s assets, which further safeguards the
interests of customers.
If you are interested in opening an account or learning more about Transwap’s services, please visit www.transwap.com.
|
|
|
|
|
|