Enabling improved cross-border money movement
Starting this summer, dtcpay users will have access to over 49 corridors for payments originating from Singapore. Payout locations include the Chinese mainland, the UAE, Malaysia, Indonesia, the Philippines, Switzerland, Thailand, Vietnam, and a range of markets across the EU.
The companies aim to deliver a cost-effective and transparent way to move money across borders, ensuring that both recipients and senders receive more value in every transaction. As part of the agreement, dtcpay users will enjoy faster processing times with 60% more transactions made within an hour and 95% more completed within 24 hours.
The initiative addresses the needs of various user segments, including businesses, financial institutions, and frequent flyers. For businesses seeking a simpler way to pay overseas vendors or employees, dtcpay’s solution significantly cuts payment times compared to traditional wire transfers, which can take up to five days. This helps them maintain their cash flow and operational efficiency.
For financial institutions with established API infrastructure, international payments require secure APIs. dtcpay offers a reliable API infrastructure aimed at simplifying cross-border payments for these institutions, allowing them to offer better services to clients and optimize overall efficiency.
Additionally, the company caters to frequent flyers who need a convenient and fast solution for making international transactions at any time. Leveraging a solution that enables individuals to manage their global finances without high transaction volumes or complex processes, users benefit from transparent fees and rapid transfers anywhere in the world.
Mastercard Move aims to offer banks, financial institutions, disbursers, and their customers a secure and fast money-moving experience, both internationally and domestically. It allows users to enhance their transfer offerings and maximize profits by providing end-users with more choices and transparency, enabling trackable payments, visibility into fees, accurate delivery time estimations, and the option for payouts to bank accounts, e-wallets, cards, or cash.
