Tazapay is able to grow across the UK and Europe because to its cooperative agreement with Volt, a real-time payments and Open Banking service.
Tazapay, a Singapore-based provider of international payments, has teamed up with Volt, a real-time payment gateway, to add open banking payments to its repertoire.
As part of the business’s aspirations for worldwide expansion, Tazapay intends to quicken its growth in the UK and other European countries. The business also intends to launch its services in Brazil this year.
The alliance will make it possible for Tazapay’s clients to start and increase cross-border sales, particularly those APAC and MENA-based business owners who wish to extend their operations in the UK and the rest of Europe.
Businesses can follow payments from beginning to finish using Volt’s real-time reconciliation tool, and the company’s fraud protection programme keeps track of transactions using a configurable scoring system that can spot and stop any suspect payments.
Tazapay has concluded a $16.9 million Series A round of fundraising led by Sequoia Capital Southeast Asia, and the Monetary Authority of Singapore also granted it a licence for a Major Payment Institution (MPI) (MAS).
“Real-time payments are now expected more from companies and end users as a result of the introduction of open banking and the development of real-time payment networks like the PayNow service in Singapore and UPI in India. We are thrilled to be collaborating with Volt, a business that shares our values and will help us enable smooth, real-time cross-border payment for our clients.” remarked Tazapay’s co-founder and CEO, Rahui Shinghal.