Fintech Round Up

Landbank And Transfast Partner For Real-Time Deposits Worldwide To Philippines

Transfast, a leading provider of cross-border payments solutions, and the Land Bank of the Philippines today announced they have partnered to enable Transfast customers worldwide to make real-time instant transfers into accounts at LandBank, 24/7, 365 days a year through the Transfast website.

Filipinos in the U.S. and Canada can now use Transfast to directly deposit funds to the LandBank accounts of their beneficiaries in the Philippines via mobile, online or in-person. Real-time deposits are available in Pesos or in U.S. dollars.

LandBank and Transfast signed the agreement for the new partnership recently at LandBank's offices in Manila.

"We welcome this partnership with Transfast that allows us to provide our kababayans around the world a safe and affordable facility to make real-time deposits to the LandBank accounts of their beneficiaries in the Philippines. We look forward to more exciting possibilities and opportunities with this partnership, which brings us several steps closer to competing more effectively in the global remittance market," LandBank president and CEO Gilda Pico said.

"Transfast has long been a leader in the Philippines market, and in 2009 was the first money transfer company to offer instant bank deposits to the Philippines," says Samish Kumar, Transfast's CEO. "Like LandBank, we are committed to providing the best possible service to overseas Filipinos as they send their hard-earned money to their loved ones back home."

Transfast customers sending to accounts at LandBank can send money to the Philippines instantly via mobile, online or in person around the globe to beneficiaries in the Philippines. Beneficiaries can receive funds direct to their bank accounts or pick up the money within minutes at more than 17,000 convenient locations throughout the Philippines.

"We are pleased that this new connection will enable customers of Transfast sending money to LandBank accounts to send funds which are received instantly around the clock," says Kumar. "We know our customers will enjoy this added convenience and are pleased to be connected to LandBank with this latest technology."

Mozido And PayEase Launch Cross-Border E-payments Platform For Russia And China

Mozido, a global provider of trusted digital commerce and payment solutions, today announced that PayEase, a Mozido affiliate, has launched TradeEase - a new platform that will enable the first-ever cross-border B2C e-commerce payments between China and Russia.

Merchants in both China and Russia will be using the platform, with an expected 200 Chinese online shops participating at the time of launch and 800 by the end of 2015. More than 100,000 consumers in Russia are expected to be active on the platform during the first three months, reaching one million active users after one year.

Yandex.Money, the largest Russian payment processing company with 170,000 cash acceptance points, will serve as a primary partner, allowing buyers to pay for goods via their e-wallet or bankcard. Banking partners include the Bank of China, which will provide ruble to RMB FX conversion, and the Suifenhe Government, the governing body of the local border between Russia and China, which will subsidize promotions for TradeEase in both China and Russia.

The TradeEase platform brings unprecedented convenience to e-commerce consumers and merchants in Russia through a payments platform that is localized and customizable for merchants for an overall cost effective, more efficient way to buy and sell goods across borders, saving consumers both time and money. The platform enables merchants in China to sell through e-commerce sites to consumers in Russia who pay using local credit cards, debit cards or bank accounts while merchants in Russia can sell through e-commerce sites to consumers in China.

An offline-to-online (O2O) capability will provide a physical location where consumers in China can shop items from Russian merchants and purchase through the TradeEase platform, and likewise for consumers in Russia to shop for and purchase Chinese goods.

“We developed the TradeEase platform in response to a growing need to bring frictionless e-commerce payments between China and Russia, and we are excited to expand on opportunities for trade and commerce between the countries,” said Kino Kwok, executive vice president of operations and business development at PayEase. “We look forward to further developing these relationships to foster growth between the nations.”

“The potential for economic development within China and Russia has never been more evident,” said Ron Hynes, executive vice president and head of global markets. “At Mozido, we’re proud to be establishing our foothold in these growing regions by enabling the first-ever cross-border O2O commerce between the countries.”

ECommPay Opens First Office In Asia

On September 9, payment processing provider ECommPay celebrated the grand opening of its first Asian office, conveniently located in Marina Bay Financial Centre, Singapore.

As a global commercial centre, Singapore is ideally situated at the heart of Asian e-Commerce, attracting companies and specialists from around the world. The Singapore branch office is yet another step in the company's targeted expansion, providing current and prospective clients with increased international coverage.

ECommPay's team of regional directors met to celebrate the occasion and took the opportunity to discuss future plans for the company's continued development, as well as individual predictions for the development of the e-Commerce sphere more generally.

The head of each regional office shared the nuances of their local market and facilitated an exchange of ideas amongst colleagues aimed at counteracting foreseeable challenges. The new office in Singapore will act as an important hub for clients seeking to expand their business into new markets, as well as being a central point of contact with companies working within Asia.

The newly appointed director of ECommPay Singapore, Dennis Kwok had the following to say to mark the opening,"Our newest office presents the unique opportunity of attracting new clients interested in advancing their business prospects. At present, ECommPay's Singapore branch office offers a platform to clients wishing to expand into the region."



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