Key Takeaways:
- GCC Expansion: Tranglo, a global cross-border payments company, expands its services across the Gulf Cooperation Council (GCC), including Oman, Qatar, and Bahrain.
- Supporting Migrant Workers: This expansion aims to provide efficient and affordable remittance services to over 31 million migrant workers in the region.
- Financial Inclusion: Tranglo is committed to supporting financial inclusion and simplifying cross-border payments for individuals and businesses in the GCC.
Dubai, UAE – Tranglo, a leading cross-border payments provider, has expanded its services across the GCC, bringing its solutions to millions of migrant workers in the region. This expansion follows the company’s initial entry into the UAE market in 2023.
The GCC region has a significant remittance market, with over 31 million migrant workers, primarily from South and Southeast Asia, relying on cross-border payments to support their families back home. Tranglo’s expansion aims to provide these workers with secure, affordable, and convenient options for sending money.
“Tranglo officials commented on the expansion, noting that the GCC has unique needs for safe, cost-effective cross-border payments to support migrant workers,” stated the report, highlighting the company’s focus on addressing the specific needs of the region.
In addition to its existing direct bank account transfer services in the UAE, Tranglo now offers cash pickup options in Oman, Qatar, and Bahrain. This allows for near-instant collection of funds in local currencies, including Omani Rial (OMR), Qatari Riyal (QAR), and Bahraini Dinar (BHD).
Tranglo’s expansion in the GCC is driven by its commitment to financial inclusion and simplifying cross-border payments. The company’s proprietary platform, Tranglo Connect, enables financial institutions and businesses to manage cross-border payments efficiently and securely.
“They added that the new market entries are part of Tranglo’s commitment to supporting financial inclusion and simplifying remittances,” the report added, emphasizing Tranglo’s dedication to providing accessible financial services.
Tranglo Connect provides end-to-end integration of payout and partner services through direct API access, facilitating secure transactions to over 100 countries worldwide. This platform enables Tranglo to offer a comprehensive suite of cross-border payment solutions, catering to the diverse needs of individuals and businesses in the GCC and beyond.
By expanding its presence in the GCC, Tranglo is contributing to the growth of the region’s remittance market and supporting financial inclusion for millions of migrant workers. The company’s focus on providing secure, affordable, and accessible payment solutions aligns with the GCC’s growing demand for efficient cross-border payment services.
