BigPay, a Capital A venture firm, recently revealed that it has added 38 new countries to its global remittance services network.
In order to perform a global bank transfer to these nations, senders will be required to enter in the amount to remit, choose the country, and then proceed to add in the recipient’s banking account details.
At present, BigPay is providing free-of-cost overseas transfers for a limited time, but only to Europe and the UK.
The app had first introduced its international remittance services back in September 2019 and is said to have experienced steady growth despite the COVID-19 outbreak.
Currently, BigPay allows clients to send funds directly with no hidden fees to bank accounts in Malaysia, Singapore, Thailand, Indonesia, the Philippines, China, Vietnam, India, Bangladesh, Nepal and Australia.
Salim Dhanani, CEO and Co-founder of BigPay, stated:
“BigPay leverages technology to dramatically reduce the cost and complexity of sending money abroad for its users. We are ensuring that it is affordable, convenient and transparent for users to transfer money abroad – whether it is to send money home to loved ones, to university bills or for overseas purchases. BigPay will continue to expand the remittance feature and will soon have the ability to accept incoming transfers from anywhere in the world with the best exchange rates.”
As covered in March 2022, BigPay, a Capital A venture firm and virtual banking platform, announced the introduction of its all-digital loans issued by “BigPay Later”, which is a wholly owned subsidiary operating within the group and a digital money lending license holder.
The personal product provided by BigPay Later is being regulated by Malaysia’s Ministry of Housing and Local Government (KPKT).
This is BigPay’s first personal loan product offering which is available to selected clients and will be progressively introduced to more customers.