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In another sign that the crowd economy has arrived – we are seeing the launch of a payment system that will replace antiquated banks and financial instruments that were a hindrance to the new economy and the future of work. Transpay is making it easier than ever for businesses to transfer funds worldwide in a matter of minutes. The company has just announced a cross-border payments service and the global launch of a new platform that makes sending low value funds efficient, simple and quick – hallelujah!

Working in our interconnected age gives businesses a distinctive advantage to acquire worldwide talent and operate on a global level. Yet, when it comes to paying global freelancers, suppliers and developers, being interconnected does not necessarily mean fast and effortless payment transfer. Now a brand-new cross-border platform – Transpay is changing that scenario.

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Transpay makes businesses of all sizes avoid inconvenient procedures and move money in a hassle-free way. Nagarajan Rao, Senior Vice President of Transpay, says that this new service delivers “functionality” normally seen only in payments systems of big corporations. The latter have an advantage of costly IT integration, now available to businesses of all sizes. With a launch of this new platform global payments can be made in one single step – by logging onto Transpay’s secure website. Transpay ensures that money will reach recipient’s bank account within minutes. The icing – Transpay’s service is available in more than 100 countries across Latin America, Europe, Asia and Africa.

Nagarajan Rao’s team works with crowdsourcing companies, online marketplaces and other clients worldwide to deliver simple solutions for B2B, P2P and B2P payments. Company calls this launch a Mass Payout Solution. “We’re addressing a core need of businesses of all sizes,” says Nagarajan Rao, “making cross-border payments simpler than ever before.”

So what is different about it?

It does not require any technology integration into an enterprise – just access to Transpay’s website.

No collecting complicated bank wire details or receiver bank accounts. 

No bank processing times.

It bypasses traditional bank wire system. Cross-border payments take place without need to collect a vast amount of bank wire details or long processing times.

It is more cost-efficient and time-efficient than international prepaid cards or e-wallets. Plus, it enables a direct transmission into the recipient’s bank account (no e-wallet) with the finest foreign exchange rate and minimal fees.

Transpay is promising the very best foreign exchange rates and minimal fees.

Are you part of the global workforce? Would you use Transpay? What are your thoughts? Share your comments with us below or on social with #CSWGlobal15

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Do you have more questions about global payments? Nagarajan Rao will speak at CSW Global 2015 and join scores of global innovators creating a dent in the crowd economy. Don’t miss the world largest meeting on the crowd economy coming to Singapore, April 20-24 and secure your ticket to CSW Global to hear discussions on the future of finance.

Image via Transpay