DTCPAY Collaborates with MasterCard Move for Global Remittances

DTCPAY, a digital payment solutions provider from Singapore, has teamed up with MasterCard Move to enhance global remittances for users.

This partnership utilizes MasterCard’s extensive money movement capabilities, aiming to improve the speed, security, and transparency of international transactions, according to DTCPAY.

Beginning in June, users of DTCPAY will have access to over 49 payment corridors for transactions initiated from Singapore.

Payment destinations will include various markets such as mainland China, Emirates, Indonesia, Malaysia, the Philippines, Switzerland, Thailand, Vietnam, and several areas within the European Union.

The collaboration promises quick processing times, with 60% of payments expected to be received within an hour and 95% within 24 hours, as claimed by the company.

This setup enables businesses to pay international vendors or employees much quicker compared to traditional wire transfers, which can take up to five days.

Financial institutions, including brokerages, will benefit from DTCPAY’s API infrastructure for more efficient cross-border transactions.

Individuals are also able to manage their global finances using DTCPAY’s user-friendly payment solutions without needing to execute high transaction volumes.

The CEO and Co-Founder of DTCPAY remarked, “We continually strive to push the limits of digital payments to ensure our users have a top-notch experience. This partnership with MasterCard Move is a significant step toward achieving that aim.”

They added, “By facilitating fast, transparent, and secure cross-border transactions, we aim to enhance our users’ financial experiences and support businesses and individuals in today’s increasingly globalized landscape.”

MasterCard Move provides remittance solutions to banks, non-bank financial institutions, direct dischargers, and their customers, operating in over 200 countries and handling 150 currencies.

In April, MoneyGram implemented MasterCard Move, focusing on the digital movement of money both within the US and internationally. This partnership benefits from MoneyGram’s network, which spans 200 countries, featuring around 450,000 retail locations and 5 billion digital endpoints.