Case Study: Tazapay opens new markets with Currencycloud

Currencycloud Gives Tazapay the Key to Open Up New Markets

Tazapay is a Singapore-based cross-border payments start-up focused on using local payment methods to build a global business-to-business network. As it grew, it needed a way to seamlessly convert, hold, and send money across Asia, but buyers outside Singapore had to make wire transfers, creating friction. It also could not collect the buyer information required in some Asia-Pacific jurisdictions, which meant it could not send money to the Philippines or India.

Using Currencycloud Direct, Tazapay was able to collect money from buyers in the US, Canada, the EU, and the UK as if it were local, then settle to sellers. Currencycloud also let Tazapay include key remittance details such as the buyer’s name, meet compliance requirements, create named accounts, and support higher payment limits. Since first using Currencycloud Direct in December 2021, Tazapay has accessed markets it could not before, including India and the Philippines, while offering lower FX rates and reducing disputed transactions and chargebacks.

Tazapay

Rahul Shinghal

Chief Executive Officer