OBLOCK Holdings, under the OwlTing Group umbrella, has partnered with Visa to introduce OwlPay Cash App.
Enabling Cross-Border Payments Effortlessly
OwlPay Cash is a mobile application designed for sending payments across borders in local currencies directly into eligible bank accounts within 26 countries, including Mexico, India, Colombia, Argentina, and Peru.
Aiming to Minimise Costs and Enhance Transparency
Building on the global partnership announced with Visa in (year), this collaboration brings Visa Direct to OwlTing. This allows for connections to over 11 billion endpoints worldwide, helping to reduce hidden fees and make foreign exchange rates more transparent.
To support these transactions, OwlPay Cash has partnered with Cross River Bank, ensuring regulated US settlements without monthly fees. The solution also includes built-in foreign currency conversion.
Targeting the Immigrant Community with Cost Savings
OwlPay Cash is specifically designed for immigrants in the United States, aiming to cut costs by up to 70% compared to traditional SWIFT services. The company plans to launch the app soon, making it available on Apple App Store and Google Play in the US.
- Worldwide reach with transfers to Latin America, Asia, and Europe, offering automatic foreign currency conversion and local-currency payouts. High-demand markets like Argentina, Mexico, Colombia, Peru, and India will be prioritised initially.
- No monthly fees and reduced charges for cost-efficient transactions.
- A user-friendly experience focused on a mobile-first approach.
- Security and compliance with licensing in 39 US states and ISO 27001 certification for user data protection.
- Built on Visa’s global network, ensuring reliability and efficiency.
In discussing the move, Darren Wang, Founder and CEO of OwlTing Group, highlighted the company’s goal to provide users with more savings, transparency, and efficiency through the integration of Visa Direct and OwlPay Cash in one application.
