Transwap

Company Overview

TranSwap is a cross-border payment platform for businesses and everyday people who seek to make payments overseas while reducing FX costs and complexity. We offer the most competitive rates through our proprietary online transaction portal and a wide network of FX Partners to enable our users to fulfil global payments at the lowest cost efficiently. In addition to TranSwap’s online transaction portal, cross-border payments provided by TranSwap are also available on the NetworkedTrade Platform (“NTP”) Value-Added Service (“VAS”) provider listing. As an NTP VAS provider, TranSwap is part of the vibrant trade ecosystem that is the NTP – a Singapore Government initiative. We offer a cost-effective and convenient solution to importers and exporters seeking to make or collect payments internationally.

 

As part of TranSwap's mission to empower people, we support SMEs by provide a low-cost and efficient global payments solution and help them save on international payments while expanding their global reach. During the Covid-19 crisis, we also offered fee waivers to support migrant workers and conducted a webinar to show employers and their employed foreign workers how they can open a free account and send money safely through our platform without leaving the comfort of their homes. This was part of our efforts to keep them and their employers' families safe.

 

As part of TranSwap's continuing efforts to do good in the Fintech space, we are also doing the following:

1.TranSwap looks to engage more with the community by creating a network SMEs to create synergy with each other’s services

2.We are also working to set up a Global Centre of Excellence in Scotland to develop AIDA & BLOCKCHAIN capabilities to complement our OPEN BANKING API's & CLOUD ELECTRONIC MONEY PLATFORM and bring these innovation & capabilities to the SME market

We also have plans to continue empowering more people in our community including youth through various events and sponsorships.

Innovation

Being in the corporate law field where he has worked with a vast portfolio of small and large enterprises on legal and regulatory issues, Kien Leong is especially well-versed in the spectrum of business environments and knows first-hand about the challenges individuals face. Despite the stream of technology-led changes that have transformed how businesses grow and succeed, he noticed a lack of cost-effective and fuss-free cross-border payment platforms – a common issue which rings true among SMEs. Thus, Kien Leong co-founded TranSwap to empower businesses to scale globally by meeting their cross-border payments needs.

Impact

“Helping the community has always been at the heart of what we do at TranSwap. Founded with the aim of filling the void in the global payments industry with an efficient, tech-powered platform for businesses to settle inter-country fund transfers seamlessly, TranSwap has since grown through the years, helping SMEs around the world streamline the payments process and scale internationally. Earlier this year, we launched an e-remittance service for employers of foreign domestic workers (FDWs) to digitally send money back to FDWs’ families and as part of our continued efforts to contribute to our community, we prepared care packages in appreciation of our migrant workers who have shown strength and resilience during these challenging times. TranSwap seeks to further engage with the local community in the coming months and invest in events and sponsorships that contribute to empowering the people.”

Director - Kien Leong

Registered Name

Transwap Pte Ltd

ACRA

201427511E

Year Founded

2015

Hotline

6100 9788

Address

29 Media Circle, Alice@Mediapolis, South Tower, #02-06, Singapore 138565