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Cross-border payments fintech Wallex now supports ASEAN currencies

2019-02-27 09:30

JAKARTA, Indonesia, Feb. 27, 2019 /PRNewswire/ -- PT Wallex Teknologi Berkat announces newly supported currencies, with a focus on Asean currencies such as Vietnamese Dong (VND), Philippine Peso (PHP) and Cambodian Riel (KHR).

Wallex will be among the first to support outbound payments in these currencies from Indonesia, beating traditional financial institutions. With these added currencies, Wallex now boasts an offering of over 40 global currencies including Chinese Yuan (CNY), Malaysian Ringgit (MYR) and Thai Baht (THB), with an extensive reach of 180 countries.

"With ASEAN having a population of 642 million, and growing at an exponential rate of 5.9 per cent relative to the global economic growth rate of 3.8 per cent[1], we foresee an increasing amount of cross border payments in the region and Wallex is now well poised to fill in this gap and better serve our clients." -- Hiroyuki Kiga, Co-Founder and COO of Wallex.

With a simple online dashboard, SME customers are able to view and lock in rates, create payment instructions, and upload their underlying documents, all from a single platform. Wallex offers competitive FX rates in over 40 global currencies, and only charges a minimal fee of Rp 100.000 per transfer of any amount. This service is also available 24 hours a day.

Golden Rama Tours & Travel, one of Indonesia's largest travel agents, has been using Wallex to do payouts to their business partners. "Sending payments via Wallex has been easy, seamless and it saves us a lot of hassle. Our partners also receive their payments on time, and the best part is that they offer very competitive rates, which is important to us. We are happy to have Wallex as our go to payments partner." -- Feny Ferlina, Finance Manager of Golden Rama.

[1] "Commentary: The rebirth of the ASEAN miracle growth model", Channel News Asia, 4 Nov 2018, https://www.channelnewsasia.com/news/commentary/asean-economic-community-connectivity-rebirth-growth-model-10879030

Logo - https://photos.prnasia.com/prnh/20190226/2385992-1logo

Source: PT Wallex Teknologi Berkat
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