Cross-border payment hub Tranglo has partnered with Al Ansari to expand in the GCC region and to improve the latter’s remittance experience for its clients. This collaboration represents a part of Tranglo’s Middle East expansion programme, aimed to improve Tranglo’s presence in the UAE.

Al Ansari Exchange will also have the possibility to improve the services and solutions provided to its customers and clients. Tranglo will continue to offer financial institutions and companies improved payment methods via its proprietary cross-border payment solution Tranglo Connect. Businesses will be enabled to make payments to over 30 countries reliably and securely, as well as to integrate payout and partner services and unify the end-to-end payment process with direct API access.

Tranglo’s partnerships and launches Malaysia-based cross-border payment hub Tranglo offers its clients and customers a suite of solutions that includes business payments, foreign remittances, as well as mobile payment services. The company had multiple collaborations and product launches in the last couple of months, covering several geographies. In May 2023, Tranglo partnered with Lulu Money, a subsidiary of Lulu Financial Holdings, in order to accelerate cross-border transactions and payments.

The deal was set to use the mutual expertise and tools of both companies while benefiting businesses and individuals that were seeking efficient, secure, and fast international fund transfers. Throughout this deal, Lulu Financial Holdings was set to continue to improve its solution delivery while meeting the needs, preferences, and demands of its customers and users. Tranglo was able to benefit from its extensive network and simultaneously strengthen its payments infrastructure.

Moreover, the collaboration aimed to provide both companies with the possibility to offer faster and more efficient transactions for an improved user experience. In April 2023, the cross-border payment company aimed to address the high cost of remittance with solutions and services such as cash pickup. Remittance represented a major GDP contributor for Nepal, which came close the 23%.

About 56% of Nepali households relied on remittances, making the process of lowering costs and improving accessibility a crucial goal, as mentioned in the press release published at the time. Tranglo sponsored a futsal tournament in Nepal as part of its partnership with fintech company Inficare, in order to bring awareness to remittance, as well as to promote financial inclusion for customers around the region. Earlier in the same month, Tranglo launched instant SEPA payments to Europe, for enabling businesses, individuals, and firms alike with real-time cross-border payments.

The launch marked Tranglo’s first large-scale expansion within the area, and it came amid an influx of cross-border funds in recent years. The initial launch included multiple supported SEPA payout countries, such as the UK, Croatia, Belgium, Germany, Hungary, Netherlands, Slovakia, Finland, Greece, Portugal, Spain, as well as Sweden. Additional countries were set to be added to the list in the following months.

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