Instant SEPA payments from Tranglo to Europe
The current SEPA payout nations are Belgium, Croatia, the United Kingdom, Finland, Germany, Greece, Hungary, Netherlands, Portugal, Slovakia, Spain, and Sweden. Future additions will include more nations.
SEPA payments start now!
The introduction of instant SEPA payments to Europe was announced by Tranglo today. It is the first significant expansion for the company in that area and comes at a time when international capital has been pouring in recently. Annually, SEPA processes over 43 billion transactions, with cross-border payments seeing a sharp increase in the last ten years. However, only 3.5% and 4.5% of these regional transactions were cross-border SEPA credit transfers and direct debits, respectively.
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In the upcoming months, Tranglo anticipates a sharp rise in cross-border transactions to SEPA nations, particularly from European consumers and businesses seeking real-time payments abroad.
United Kingdom, Belgium, Croatia, Finland, Germany, Greece, Hungary, Netherlands, Portugal, Slovakia, Spain, and Sweden are the first countries to support SEPA payouts; additional countries will follow.
According to Jacky Lee, CEO of Tranglo Group, “We chose to launch this offering to meet the growing demand for instant cross-border payments. The fact that Tranglo Connect seamlessly integrates with SEPA and provides greater transaction value in terms of speed and coverage will excite our business partners.
Instant SEPA payout from Tranglo is offered around the clock and supports both private and corporate senders and recipients. An IBAN is required to identify every bank account used for transactions.
Through Tranglo Connect, its in-house cross-border payments solution, Tranglo assists financial institutions and businesses with payments. With direct API access, it unifies the end-to-end payment process by seamlessly integrating payout and partner services. Companies can reliably and securely send payments to more than 30 countries using Tranglo Connect.
