InstaReM Partners with Beetech to Enable Real-time Remittances Between Asia-Pacific and South America

May 30, 2018         By: Payment Week

London/São Paulo/Singapore, 30 May 2018: InstaReM, Asia’s leading digital cross-border payment provider, has partnered with São Paulo-based BeeTech, a market-leading South American payment service provider, on Ripple’s leading enterprise blockchain network for payments. This partnership is the first of its kind between a non-bank RippleNet member in Asia and in South America, and will enable their customers to benefit from fast, transparent and low-cost Ripple-powered payments across a greater number of markets.   

The collaboration between BeeTech and InstaReM follows shortly after both international money transfer companies signed with Ripple, the world’s only enterprise blockchain solution for global payments. Customers will now be able to make payments to and from markets where the companies operate – in real time, and at low cost, starting in May 2018.  

Singapore-headquartered InstaReM offers payment services to over 55 countries, including markets in Southeast Asia and Europe. The partnership with Beetech will enable InstaReM customers to send real-time payments into South America. BeeTech customers will benefit from instant pay out services into the 60 markets across the world that InstaReM supports.

 

Announcing the tie-up with BeeTech, Prajit Nanu, Co-founder and CEO of InstaReM, said:

“We are very excited to partner with Brazil’s BeeTech over RippleNet. The connectivity that Ripple’s innovative blockchain network provides will allow us to offer our customers –  including corporates and small businesses – quick, hassle-free payments into BeeTech’s markets.

 

Fernando Pavani Founder and CEO of BeeTech said:

“This partnership is fantastic news for our business customers, who will benefit from Ripple-powered payments into InstaReM’s Southeast Asian markets and beyond. This partnership on RippleNet provides our customers a one-stop shop experience, including the ability to send payments and access new suppliers across more than 60 markets through xVia – a simple API connection.”

InstaReM’s remittance hubs are spread across Asia-Pacific, the U.K., European Union and the U.S., with an operations office in Mumbai, India.


About InstaReM

InstaReM is a Singapore-headquartered cross-border payments company. Founded in 2014, InstaReM is licensed as a Money Services Business (MSB) in Singapore, Hong Kong, Australia, USA, Europe, Canada, India and Malaysia. It powers local payments to more than 60 countries and 3.2 billion people across the globe. InstaReM has created a unique payment mesh in Asia, which is being leveraged by financial institutions, SMEs and individuals to make fast low-cost cross-border payments.

For more information on how InstaReM helps businesses, click here.


About Beetech

Beetech is a technology and infrastructure provider born out of ideas that connect financial technology and innovation to transparency for the main currency exchange services in the world. The company offers online digital money transfers in and out of Brazil via its BeeCambio and Remessa Online services. The company aims to simplify and automate processes, consequently providing a personified, secure and unique experience to its customers. Through its products, Beetech wants to offer financial solutions that integrate all processes originated in cross-border transactions.