Singapore-based digital payments solutions provider dtcpay has forged a strategic collaboration with Mastercard Move to facilitate seamless global money transfers for its users. The partnership leverages Mastercard’s global money movement capabilities to offer enhanced speed, security, and transparency for their cross-border transactions. Starting in June, dtcpay users can access over 49 payment corridors for transactions originating from Singapore.
Payout destinations include the Chinese mainland, the Emirates, Indonesia, Malaysia, the Philippines, Switzerland, Thailand, Vietnam, and select markets across the European Union. The collaboration enables fast processing, with 60% of payments typically received within one hour and 95% within 24 hours, according to the company’s claims. Businesses can pay overseas vendors or employees more quickly than with traditional wire transfers, which can take up to five days.
Partnership enhances global money transfers
Financial institutions, like brokerages, gain access to dtcpay’s API infrastructure for efficient cross-border transactions. Individuals can manage global finances through dtcpay’s streamlined payment solution, without needing high transaction volumes.
dtcpay CEO & co-founder said, “At dtcpay, we are constantly pushing the boundaries of digital payments to ensure that our users enjoy the best-in-class experience. This collaboration with Mastercard Move is a significant milestone in achieving that goal. By enabling fast, transparent, and secure cross-border payments, we are not only improving the financial experience for our users but also empowering businesses, financial institutions, and individuals to thrive in an increasingly globalised world.
Mastercard Move, which provides money transfer solutions for banks, non-bank financial institutions, direct disbursements, and their customers, operates in more than 200 countries and supports over 150 currencies.
The collaboration between dtcpay and Mastercard is expected to set a precedent for efficient, secure, and quick global money transfers. It provides a significant advantage to businesses and individuals involved in cross-border transactions.