September 26, 2015
Transpay—a cross-border payment service focused exclusively on B2B/B2P transactions—will let payouts to Southeast Asia and Europe for HotelQuickly, a last-minute hotel booking app In Asia-Pacific.
HotelQuickly is available in more than 250+ destinations in 15 countries across Asia-Pacific. Available in seven languages, the app enables users to make last-minute hotel reservations. The app can be downloaded from the online stores of Android, Apple or Blackberry. The user needs to have a smartphone, a credit card or PayPal account to use the app.
Having their own independent global bank network allows Transpay to not rely on correspondent banks to deliver their client’s money, a practice shared by the majority of global payout services. Their network also allows them to deliver superior service more reliably, faster and without hidden costs.
Transpay's payment platform will allow HotelQuickly to pay their hotel network through direct bank deposits in local currency.
"Transpay has helped us simplify our mass payments, which used to be costly and time-consuming," says Mario Peng, Co-founder and CFO of HotelQuickly. "The service has allowed us to send faster payments to our hotel groups without hidden fees."
HotelQuickly has also adopted Transpay for their international payroll.
"Asia Pac presents special challenges when it comes to mass payments," says Nagarajan Rao, Senior Vice President of Transpay. "We are excited to be solving those challenges for HotelQuickly and look forward to growing our relationship in the years to come."
Nagarajan Rao, SVP and Head of Transpay, shared some insights about the company while talking to LTP.
He said, When Transpay launched in late 2012, we deployed robust, industrial-grade, back-and front-end technologies. Coupled with our own proprietary cross-border payments network, we were able to pioneer instant, direct-to-bank or cash pick-up payouts.
Today, we have the largest, independent direct-to-bank network in the world. We have partnerships with some 10,000 banks and payment processors in more than 120 countries. In most countries, our network reaches more than 90% of the banked population. We also send funds to 200,000 cash pick-up locations.
Transpay’s total global payout volume in 2014 was $4 billion, with 11.6 million transactions. We have 6,065 business clients and three million individual clients.