The platform enables companies to launch their own branded cards programs by tapping on InstaReM's payments infrastructure.
Digital cross-border money transfer and payments company InstaReM is launching an API-based digital platform to allow start-ups, fintech companies and enterprises to launch their own branded cards, the Singapore-based firm announced in a press release on Friday.
The platform allows InstaReM’s fintech partners and enterprise customers to leverage its global digital ecosystem for payments and remittance, removing the need to obtain multiple local licenses to be able to issue payment cards to their employees and vendors, the release said.
The cards are available in virtual and physical form, and will include loyal schemes and multi-currency options. Companies can use the cards for business-related travel and expenses, payroll, and payouts and disbursement to their employees and vendors. According to InstaReM, businesses can start issuing payment cards in just four weeks after registering.
Strong Growth
InstaReM enables low-cost cross-border payments to 55+ countries, with partnerships with global payments leaders like Ripple, Visa and First Data. Since it started operations in 2015, the firm has raised a total of $59.5 million.
It is now focusing on growth and expansion to new markets, including opening a regional headquarters in Latin America and expanding its teams in London and Seattle.
