Transpay Publishes Next Ultimate Guide for Companies Looking to Remove Friction From Their Payments Flow

NEW YORK, Nov. 20, 2019 /PRNewswire/ -- Transpay, the cross-border payments company and leading provider of Local Bank Transfers, today published Removing Friction From the Payments Flow: Deploying Local Bank Transfers as a Competitive Advantage, the latest installment in an ongoing series that explores the intricate world of cross-border payouts.

The Ultimate Guide to Local Bank Transfers series looks at alternate ways of getting money into a bank account other than what has typically been offered by the banking system. A Local Bank Transfer is a payment structure that makes it possible to send funds from a business' bank account directly into a recipient's bank account, in the local currency of the recipient, without using the traditional bank networks.

According to the new guide, Local Bank Transfers are one of the leading payments preferences of recipients globally. Local Bank Transfers are an accepted and integrated payment method that makes international payouts an invisible and seamless process. They enable transfers not only to a bank account but also to a mobile wallet or for cash pickup, making them the ideal foundation for a payouts program.

"This method uniquely satisfies your recipients' expectations for timely and cost-effective payments while providing the most effortless way for recipients to have funds delivered in the local currency to a bank account, mobile wallet (such as the M-Pesa mobile wallet in Kenya) or for cash pickup," the guide states.

According to Samish Kumar, CEO of Transfast, owner and operator of Transpay, the Local Bank Transfer model solves for both transparency and convenience.

"Local Bank Transfers' key value proposition is that they combine frictionless payments with nearly real-time speed," Kumar says. "In the process, they raise the bar for cross-border, frictionless payments."

Other installments of the Ultimate Guide to Local Bank Transfers series include Getting to Know Local Bank Transfers: What They Are and How They Can Work for You and Building a Payouts Channel for the 2020s and Beyond: Getting on Board With Local Bank Transfers.  

About Transpay
Transpay is a service from Transfast, a leading global payments company with more than 30 years of operating history. Transfast processes over $8 billion USD in annual payment volumes. Transpay provides businesses of all sizes with a scalable, secure, and fully compliant cross-border mass payout solution, making it easy to send funds directly to the local bank accounts of vendors, business partners, freelancers or others, reaching over 95 percent of the world's bank accounts. Transfast is now owned by Mastercard. To learn more, visit www.transpay.com.

SOURCE Transpay

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