HomeBusinessInstaReM starts digital money transfer service in Canada

InstaReM starts digital money transfer service in Canada

Reader's Pick

Solidifying the company’s presence in North America. Singapore -based cross-border digital payment company, InstaReM has announced the launch of cost-effective digital cross-border payments transfer service in Canada, and has also registered as a Money Service Business with the Financial Transactions and Reports Analysis Center of Canda (FINTRAC) to remit and transfer funds out of Canada.

InstaReM, in its statement, said: “The launch of digital money transfer service in Canada, will allow any individuals or business users to send, receive money from over sixty countries, including India at zero-margin, and low international money transfer charges.”

According to the World Bank, 2017 data, “Canada is one of the leading remittance-sending countries in the world where it sent $24.6 billion as remittances following the countries like China ($4.14bn), India ($2.88bn), Philippines ($2.37bn), France ($1.23), and Italy ($1.07bn) respectively.”

Whereas, another report of Statics Canada, stated that, “The average cost of sending money from Canada to the available channels including banks and money transfer companies was around 6 percent of the amount sent.”

- Advertisement -

Speaking more on the service launch, Prajit Nanu, Co-Founder and CEO, InstaReM, said: “After launching our successful operation in some of the high-traffic corridors in the Asia-Pacific, European Union, and in the U.S., we are thrilled to arrive in Canada.”

“As our innovative payments solutions which enable individuals and enterprise users to send, spend, and receive money from any part of the world. We’re confident that consumers in Canada will love the InstaReM service,” Nanu added.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Ampere Electric to setup e-mobility manufacturing plant in Tamil Nadu

Electric Mobility Company Ampere Electric has announced a phased investment pot...

How AI Is Crucial For Business Strategy Management

There is no doubt that AI has been reshaping the business strategies world over...

COVID-19: Amazon India partners with Acko General Insurance to offer free health insurance to sellers

India's leading e-commerce company Amazon India on Wednesday announced its part...