With Its New Direct To Business Payment Solution, Transpay Aims To Simplify Payments For Digital Professionals And IT Outsourcing Firms

With Its New Direct To Business Payment Solution, Transpay Aims To Simplify Payments For Digital Professionals And IT Outsourcing Firms

An increasing number of people are now taking online profession as a viable option working for companies and business overseas via the internet or remotely. There is a large community of freelancers in Bangladesh working out of platforms such as Upwork, Microworkers, Fiverr etc.

There is a growing number of small software firms and expert professionals who offer services to overseas clients independently outside of any freelancing platforms. The number of remote professionals, people working for an overseas company without having an office in Bangladesh, is also on the rise in Dhaka.

One challenge majority of these people face is of payments – receiving payment from a client or a business partner or an organization they work for.

People who receive payment through banking channel often face a time consuming, tedious and costly option. Cross-border payment is often a challenging affair and is strictly regulated. For instance, in Dhaka, in order to receive an international payment through a bank account require the recipient to fill-up a lengthy document called C-form. Many users despise to go through this process.

Transpay, a cross-border payments platform that offers the world’s largest, independent direct-to-bank payment network, aims to solve this problem.

Direct to business

Launched in 2012, Transpay has been enabling payments for freelancers and digital professionals working on platforms like Upwork, Microworkers etc for a while now. It is known for its easy and secure service. It offers API and web-based platforms and offers a SaaS product to business partners that simplify payout process for them.

However, for receivers, it did not offer many options. It did not offer an option to receive payment outside of these platforms limiting its service to professionals who only work on these platforms. But this reality is about to change.

Transpay has recently introduced a new feature, which the company is calling ‘direct to business’ payment, through which digital professionals and small and medium IT firms can request payments from their clients and then directly receive their payments to their bank account in local currency within three days. Transpay promises that it will smooth and receivers would not have to endure any of the hassles they get to endure while receiving bank transfer or payment through other services.

A super easy process to receive your payment

The system is super easy for the receivers. You can create a Transpay account giving your bank details and other relevant information within a few minutes. You can also add multiple bank accounts on Transpay to receive funds. Once you have an account, you can send a request to your clients or business partners simply using their email address.

If your client or business partner is already a Transpay user, they can readily send the payment. If a business is not an existing user, Transpay reaches out to that business upon receiving a request and send reminders for opening an account and clearing the payment. In most cases, it works.

The service is free for the receivers. As a freelancer or professional you don’t pay any charge for receiving money. Transpay only charges the sender.

At the same time, the system is secure and only businesses can send money. Before onboarding, a business and allowing it to send money, Transpay conducts proper verification to ensure security and compliance.

“Receiving payment outside of platforms has been a challenge for Bangladeshi digital professionals who serve overseas clients, Transpay’s new direct to business payment solution will solve this problem for freelancers, small and medium IT businesses and remote workers who work for North American businesses from Bangladesh,” says Nabila Khurshed, Country Manager, Transpay Bangladesh.

Where can you go to learn more?

You can go to Transpay.com to learn more, open an account and start receiving payments.

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