Tranglo hopes to kick financial inclusion into high gear with futsal sponsorship

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It wants to bring awareness about and address high cost of remittance

SINGAPORE, April 17, 2023 /PRNewswire/ -- Tranglo is proud to announce the success of our sponsorship of the 3rd Inficare Futsal Tournament in Nepal.

The tournament, organised by leading software fintech Inficare Pvt Ltd, was held at Dhanyentari Futsal, Kathmandu, Nepal, on 1 April and 8 April. It aims to raise awareness about faster and cheaper remittance services to the country.

Remittance is a major GDP contributor for Nepal, which comes close to 23%. About 56% of Nepali households rely on remittances, making lowering costs and improving accessibility a crucial goal.

Thirteen remittance companies and financial institutions participated in the tournament. The winner and 1^st runner-up bagged NPR 75,000 and NPR 25,000, respectively.

Tranglo Group CEO Jacky Lee and SVP of GCC & South Asia Sohail Ahmad watched the tournament finals and presented trophies to the winners at the Aloft Kathmandu Thamel Hotel.

Jacky said supporting Tranglo's partners in Nepal to promote financial inclusion was an easy decision.

He added: "Nepal is an important corridor. While 80% of Nepali workers abroad still choose the Gulf nations and Malaysia, an increasing number of them are heading for Japan, South Korea and Europe. We are expanding our network of cash pickup services, bank and e-wallet transfers in these countries to give them more options to remit money."

Inficare CEO Anoop Sherchan thanked Tranglo for its contributions and said the futsal tournament aimed to foster strong relationships among the remittance companies in Nepal.

Tranglo helps financial institutions and businesses pay through Tranglo Connect, its proprietary cross-border payments solution. Tranglo maintains a vast network of payout channels in Nepal, such as 24/7 instant account deposits to all major banks, flexible cash pickups and direct-to-wallet transfers.

About Tranglo

Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittance and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, Dubai and London. Our global network spans over 150 countries, 600 mobile operators, 1,300 banks/wallets and 140,000 cash pickup points. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We now offer enhanced cross-border payout services with an even wider coverage through RippleNet, Ripple's global payment network. To find out more, visit www.tranglo.com, LinkedIn, Facebook or Twitter.

SOURCE Tranglo Pte Ltd