Southeast Asia-based payments 2C2P announced the expansion of their regional remittance platform, easy2send, to include a new real-time remittance corridor from Thailand to Singapore. In collaboration with Nium, a global fintech infrastructure platform, and Ripple, the enterprise blockchain solution for global payments, this combination of expertise will enable Thais and Singaporeans to experience a convenient, affordable, secure and instant money transfer service from Thailand to Singapore.
Launched in 2019, easy2send began with supporting outbound money transfers from Thailand to Myanmar and Cambodia, and is now expanding to other parts of the region, naturally extending to Singapore, given the city-state’s importance as a regional commerce and education hub.
For this corridor, easy2send is tapping into Nium’s global network and real-time payments technology and Ripple’s global financial network RippleNet to offer increased cross-border payments efficiency. Through RippleNet, cross-border payments can be processed instantly, reliably, cost-effectively and with end-to-end visibility anywhere in the world.
easy2send’s new corridor will feature a low flat rate and no hidden charges. Singapore expatriates in Thailand, families of Thai students studying in Singapore, as well as Thai and Singapore sellers will be able to send money instantly using digital payment methods such as wallets which can be topped up through easyWallet, 2C2P's proprietary mobile wallet, at over 10,000 payment points in Thailand and to any bank account in Singapore, as part of 2C2P’s expanded payments network.
“2C2P is pleased to be partnering with Nium and Ripple, whose technology will substantially increase the cross-border payments efficiency of easy2send. Through real-time peer-to-peer and business-to-business transfers and remittance, our customers can benefit from quick, accessible and secure international transfers in their daily lives,” said Mr. Piyachart Ratanaprasartporn, Chief Executive Officer of 2C2P Thailand. “We look to improve and expand our remittance offerings further through mutually synergistic partnerships in the near future."
“For the Thais living and working in Singapore, convenience and transparency in remittance processes play such an essential role – especially with continued social distancing measures and lockdowns in place. We are extremely excited that 2C2P shares a common goal with Nium, and we are proud to co-establish and power this new platform through our enhanced remittance capabilities,” said Rohit Bammi, Global Head of Institutional Business, Nium.
Pat Thelen, Managing Director at Ripple said: “As Southeast Asia increasingly embraces digital payments, we are proud to facilitate this movement by supporting 2C2P and Nium in this fast growing region. More than ever, people need to send money to loved ones abroad, and we are excited to enable cross-border digital payments to be easier, cheaper and more reliable with blockchain technology.”
This partnership marks the first collaboration amongst the three fintech firms, unified by their common desire to make everyday payments and transfers simple, easy and secure.