RemittancesHub is a licensed financial institution that provides a backend network for cross-border business payments, enabling real-time fund transfers to bank accounts globally at significantly lower costs than traditional methods. The platform offers a single API integration for transaction processing, forex management, and financial settlement, addressing inefficiencies in international payment collections for businesses and freelancers.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional cross-border payment methods for businesses and freelancers are often slow, expensive, and lack transparency, especially when collecting smaller payments from overseas clients. SMEs face challenges with high transaction costs, including fees and foreign exchange rates, as well as delays in receiving funds. This can negatively impact working capital efficiency and overall profitability.
Solution
RemittancesHub provides a backend network and API for cross-border business payments, enabling real-time fund transfers to bank accounts in 86 countries and 47 currencies. The platform offers a single API integration for transaction processing, forex management, and financial settlement, streamlining international payment collections and payouts. RemittancesHub allows businesses to send and receive funds globally with lower costs and improved transparency compared to traditional methods. The platform is fully compliant with AML, KYC, and CFT regulations, ensuring secure and reliable transactions.
Target Audience
The primary target audience includes SMEs, money transfer operators, fintech companies, banks, and other financial institutions that require efficient and cost-effective cross-border payment solutions.
Features
- Single API connectivity for streamlined integration with existing systems
- Real-time transaction processing for faster payments
- Support for both B2B and B2C payments
- End-to-end transaction tracking for enhanced visibility
- Competitive and customized pricing
- Prefunding in a single currency
- Compliant with AML, KYC, and CFT regulations