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October 2017 in Singapore TransferTo sees 8X revenue growth in International Money Transfer transactions over a 6-month period

·         Over 6.3 million unique transactions across TransferTo’s Cross-Border Payments Network in the past 6 months

·         TransferTo interconnects financial institutions, organisations and global merchants to facilitate mobile-based money transfers to and from emerging markets

 

TransferTo, a global B2B Cross-Border Mobile Payments Network, is today, announcing record growth across its International Money Transfer business. More than 6.3 million transactions were processed across the Network over the past six months, representing an 8x* increase in revenue for the business line. The majority of transactions came from the Middle East, South-East Asia, Europe and Intra-Africa.

Already being an industry leader in the mobile airtime space, and spurred on by the explosive growth of smartphone ownership, TransferTo launched its unique and comprehensive Money Transfer Network in 2016, and has since been experiencing exponential growth. The technology links money transfer operators, digital financial services operators, mobile wallets providers, financial institutions, NGOs and global merchants to facilitate mobile-based money transfers to and from the emerging markets – all through one single API connection, commercial relationship and daily bilateral settlement.

Partners can rely on TransferTo’s connected and fully compliant Cross-Border Payments Network to offer their customers a solution to seamlessly transfer money to over 135 countries using more than 100 currencies. Funds are delivered in real-time, using a competitive FX rate with complete fee transparency.

“We are extremely delighted to share these results and the growth which our Money Transfer business is experiencing,” said Peter De Caluwe, CEO at TransferTo. “It clearly demonstrates the demand and appetite for cross-border money transfers, and TransferTo is proud to be connecting our partners directly to emerging markets. Through our Money Transfer Network, our aim is to ensure that our customers can expand their global reach and scale their business in a quick and efficient manner.” 

More information can be found by visiting: www.transfer-to.com

This article was also feature on Mobile World Live here.

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