TranSwap, a home-grown cross-border payments platform, has been awarded Outstanding SME Cross-Border FX Platform at the inaugural FinTech Awards 2020, organised by ET Net Hong Kong.
Held on 11 January 2021, FinTech Awards recognises firms for their business innovation and excellence in the financial services industry. TranSwap is one of three awardees in the FX and Payment Solutions category – the second time that TranSwap had won an award for Outstanding SME Cross-Border FX Platform following its achievement in 2020.This marks a momentous milestone for TranSwap, as the award-winning firm whose efforts to drive convenience, efficiency and transparency throughout the cross-border payments experience, have been recognised at numerous FinTech awards over the years. TranSwap’s recognition comes amidst an evolving landscape where a streamlined payments process is set to be a game-changer in the coming years to help SMEs scale internationally with confidence and drive global economic recovery in a post-Covid-19 world.
Launched in 2015 with the aim to empower global business growth and help the undeserved sector, TranSwap has since transformed the cross-border payments process by simplifying overseas payments and collections. Through its wide network of FX partners and proprietary platform, businesses can fulfil payments to more than 180 countries in over 120currencies. SMEs can also choose to integrate with TranSwap’s API for full automation of multiple transfers, allowing small transfers in large volumes to be credited directly to beneficiaries’ wallets and bank accounts in real-time, thus improving processing speed and optimising settlements. In addition, TranSwap’s Global Borderless Virtual Account service, which was launched in 2020, allows businesses to collect payments in three locations – United States, European Union and United Kingdom – convert currencies and send-cross border payments globally.
Mr. Benjamin Wong, co-founder and Chief Executive Officer of TranSwap, said, “We are humbled and honoured to be recognised at this year’s FinTech Awards. Since TranSwap was established in 2015, the team and I have always strived to help SMEs solve the pain-points of traditional cross-border payments by streamlining the fund transfer process. Many businesses today however, still suffer from the lack of transparency, complexity, and high transfer and conversion rates, which translate to a cumbersome experience and impede their ability to grow and scale overseas. Together with our wide network of FX partners, TranSwap hopes to continuously serve the evolving needs of our customers and empower individuals and businesses with our cost-effective and efficient cross-border payments solution.”