Ripple customer, TransferGo has reached a milestone of more than $3 billion in international cash flows with over 10 million customer transfers. Aside from that, the remittance firm has unlocked 95 new markets this year in partnership with payment giants such as Visa and MasterCard.
TransferGo, which runs on RippleNet has reached a new all-time high of more than $3 billion in international money flows and a peak of over 10 million global customer transactions, according to a recent report.
Despite the World Bank predicting in an April 2020 report that the pandemic would result in the sharpest decline in remittances in the near time, TransferGo has proven that the migrant community continues to rely upon instant and affordable cross-border payments. Registered customers on the platform have now increased to 2.5million.
In fact, the demand for global real-time transfer services has been so high that TransferGo has tapped over 95 new global markets including a partnership with global behemoths such as Visa and MasterCard.
By integrating with Mastercard Send and Visa Direct, TransferGo has expanded to newer markets such as Nigeria, Moldova, Georgia, Ghana, Saudi Arabia and Vietnam. Customers can now send payments directly to a card without having to navigate the hassles of online banking or the international banking account number.
This heightened interest has enabled TransferGo to explore newer markets outside of the European Economic Area for the first time.
By working with Birleşik Ödeme, a leading Turkish payment services company, TransferGo has also entered the Turkish market, providing its low-cost and fast transnational remittances to local customers.
Commenting on the milestone, Daumantas Dvilinskas, CEO and Co-Founder of TransferGo said:
“These milestones are in honour of our fantastic employees and their endeavours to put our customers’ needs at the heart of everything we do. We have always championed fast, cost-effective and simple money transfers and despite the challenges of the last year, our programme of innovation and expansion has paid dividends in accomplishing what matters most keeping the migrant community in touch with friends and family back home.”