HotelQuickly, the last-minute hotel booking service (through a mobile app), will be using Transpay, a B2B/B2C cross-border low value funds payments service provider to make payments to its international payroll.
HotelQuickly, servicing more than 250 destinations across 15 Asian countries, has also adopted the services of Transpay to pay its hotel network through direct bank deposits in local currency.
Transpay, which was launched earlier this year by Transfast, a regulated financial institution and money transfer business, headquartered in New York, allows businesses to bypass the antiquated bank wire system when sending cross-border payments.
According to Mario Peng, Co-Founder and CFO, HotelQuickly:
“Transpay has helped us simplify our mass payments, which used to be costly and time-consuming. The service has allowed us to send faster payments to our hotel groups (and international payroll) without hidden fees.”
Nagarajan Rao, Senior Vice President, Transpay feels that Asia-Pacific presents special challenges when it comes to mass payments. “We are excited to be solving those challenges for HotelQuickly and look forward to growing our relationship in the years to come,” he said.
Transpay claims to have done a total global payout volume of $4 billion with 11.6 million transactions, in 2014. It also claims to have 6,065 business clients and three million individual clients.
It feels that it has the largest, independent direct-to-bank network in the world, having partnerships with some 10,000 banks and payment processors in more than 120 countries. It claims to send funds to 200,000 cash pick-up locations also.
Transpay, was also chosen as the payment platform recently by Seattle-based Zooppa, a global social network for creative talent, to enable mass payout to Zooppa’s global pool of leading directors, producers, writers and cinematographers in 29 countries.