We’re excited to announce that we’ve partnered with ipaymy, to offer an international payment service for individuals and business users. With a credit card and a few simple clicks, users can now transfer money to more than 30 countries safely and securely.
A fast, convenient way to pay abroad
Traditionally, moving money securely across borders has been slow, and the process relies largely on transfers between banks. With traditional wire transfer services, capital gets tied up when businesses have to pay their vendors upfront and wait for weeks to receive their purchases. This inefficiency and complexity often eats into business cash flow.
Tapping into Wallex’s connection to a global network of payment capabilities partners, ipaymy’s international payments service provides a seamless payment experience. Users can pay rent for overseas properties and offices, settle invoices from suppliers abroad, and furnish salaries to remote employees and freelancers - all with their credit cards. With ipaymy, customers can be free from the hassle of engaging multiple banks and completing extensive paperwork. FX costs presented are also typically more favourable than those offered by traditional financial institutions, and payments in select currencies can be made as quickly as 2 days.
This service is currently available to Singapore users making payments with a Visa or Mastercard. ipaymy will be actively working with Wallex to extend this functionality to all regions.
Security and transparency first
ipaymy users are assured of a secure and transparent international payment process through Wallex. With real-time visibility available on the ipaymy platform, payout dates, amounts transferred, fees and exchange rates are made clear to users before they confirm payments.
Wallex Technologies is a licensed financial institution regulated by the Monetary Authority of Singapore. The international payment service is underpinned by bank-grade security measures and end-to-end encryption. ipaymy customers can be assured their funds are sent securely with full regulatory compliance.
“The partnership is an important milestone in ipaymy’s strategic ambition to help businesses better manage their capital. Extending our portfolio of credit card payment solutions into international payments allows us to cater to the growing demand for instant and frictionless cross border payments. It’s a great next step to grow our business alongside our customers’ expansion plans. And Wallex is a great partner to help us do that.” said Ethan Dobson, CEO of ipaymy.
Hiro Kiga, COO and Co-Founder of Wallex added “The partnership with ipaymy is the first of it’s kind on both sides. We’ve identified areas where we can leverage each other’s strenghts and seeing the growth together as a result. We’re grateful for their early support in using Wallex’s FX and cross-border payments capabilities.”
About ipaymy
ipaymy is a secure payment platform for personal and business users to settle invoices that typically cannot be paid with a credit card. For a fee, users can convert wire/bank transfer to credit card payments to extend payables, settle bills faster, maximise cash flow and earn rewards. ipaymy services are available to individuals and businesses in Hong Kong, Malaysia and SIngapore, and soon in Australia. Find out more at ipaymy.com.
About Wallex
Wallex is the leading FX and cross border payment platform in Asia catering to SMEs and Fintechs in the region. Using the robust online platform, customers can convert and pay in 47 currencies, collect payments via virtual accounts, and hold funds in a wallet through the Wallex Global Business Account. Customers benefit from access to fast, seamless transactions with competitive exchange rates and fees, so they can take their money further.
Wallex is regulated by the Monetary Authority of Singapore (MAS) as a Major Payment Institution under license no. PS20200433, by Bank Indonesia (BI) under license no 20/235/DKSP/83, and by the Hong Kong Customs and Excise Department under license no. 19-12-02935
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