Instapay Technologies, in collaboration with Mastercard, has unveiled a transformative initiative aimed at bolstering international money transfer services for Instapay customers by leveraging the technology capabilities of Mastercard Move.
This partnership allows the over three million migrant workers residing in Malaysia, hailing predominantly from Indonesia, Nepal, Bangladesh, India, and the Philippines, to remit funds to their home countries in local currencies in near real-time.
With Mastercard Move, Instapay users in these five cross-border payment corridors as well as in Pakistan, can enjoy seamless transfers to bank accounts, digital wallets and cash pickup locations. They can also conveniently track payments, fees and estimated delivery times.
Instapay Technologies co-founder and Chief Executive Officer Rajnish Kumar said the partnership enables them to leverage Mastercard’s extensive global payment network and cross-border transfer expertise while enhancing the company’s remittance service to make it more efficient, secure, and cost-effective.
The initiative, slated for initial rollout to individual customers in the second quarter of 2025 with future plans for corporate expansion, underscores Instapay’s commitment to leveraging cutting-edge technology for enhanced customer service, Kumar added.
This collaboration between Instapay Technologies and Mastercard marks a significant stride towards enhancing financial inclusivity and efficiency for Malaysia’s migrant workforce, setting a benchmark in the cross-border payments landscape.
