TransferTo, which is a global cross-border mobile payments network, recently made an announcement stating that the company is officially partnering with Stellar Lumens. According to the official announcement, TransferTo is now looking forward to working with Stellar towards developing an improved way in which currency is transferred across national borders.
As reported, the new cooperation will be beneficial for all the partners of both companies, as they will get to have a mutual combined network as well as improved access to new technologies. This all will give the companies and financial institutions an important opportunity to send and receive money all around the world.
Chief Customer Officer at TransferTo, Aik-Boon Tan expressed an official opinion stating: “we always aim to be at the forefront of the payments industry, and by partnering with Stellar our goal is to trial the blockchain technology and scale our cross-border payment service to better serve our partners and reduce costs. This can enable our partners to better serve both the migrant workers sending money home and their families receiving it”.
TransferTo is Singapore based company which provides digital value services for upcoming markets. The key market for the company is in B2B mobile settlement systems. They work with such major companies as PayPal, Western Union, 7 Eleven, World Remit, Money gram and Tigo mobile money. TransferTo operates internationally all around the world aiming at connecting different financial institutions and online budgetary specialist co-ops over the planet.
According to Director of partnership at Stellar, Lisa Nestor’s official comment, “TransferTo is a leader and innovator in the remittance space, and has extensive experience and reach in emerging markets. We’re thrilled to be partnering with TransferTo to offer an expanded network for our current and future partners, as well as continue to drive greater financial inclusion for the underbanked”.