Singapore-headquarted Instarem has added Malaysia to the list of countries to which fast money transfers can be made. Users can now look forward to sending money to Malaysia within minutes and can do so from the comfort of their homes.
Cross-border payments business Instarem is one of the first remittance players to introduce speedy payments into Malaysia via DuitNow.
Currently, Malaysians working in Singapore are typically sending money through banks or physical money changers.
An insight from the Instarem team in Malaysia is that many even travel to Johor Bahru to avoid hefty foreign exchange fees. With Instarem’s new real-time payment option, they can save on time and transport costs and enjoy simple transfers from their desks.
Michael Minassian, Head of Consumer Business, APAC, at Instarem, said, “At Instarem, we are committed to making money simple, especially for users who send money home regularly. Enabling instant payments for Malaysian Ringgit transfers is a very important step in helping our Malaysian users send money to their families without having to worry about anything.”
Earlier in January 2022, Instarem had launched moblie app services in Malaysia. Users in Malaysia could send money to beneficiaries in over 55+ markets across the world.
Since its establishment 2015, the next-generation payments business has been leveraging the latest technology to help its customers send (via the app and web), pay (with its amaze card in specific markets), and receive money (through its SME offering) across borders quicker and at a more competitive price point than its competitors, an official statement read.
Instarem currently operates in six continents and over 100 markets, serving more than 130 million end customers.
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