iFAST Global Bank enables wallet-based cross-border payments

By Vriti Gothi

iFAST Global Bank has expanded its international payments infrastructure, enabling customers in the UK to send money directly to more than 60 digital wallets worldwide through its mobile banking app. The move broadens the bank’s cross-border remittance capabilities, particularly for expatriates and migrant workers sending funds to emerging markets.

The new functionality allows transfers from iFAST Global Bank’s Multi-Currency Current Account to digital wallets across Southeast Asia, South Asia and parts of Africa. Supported wallets include DANA, GoPay, OVO, ShopeePay and LinkAja in Indonesia; Touch ’n Go eWallet in Malaysia; GCash and Maya in the Philippines; JazzCash, easypaisa, NayaPay, SadaPay and Upaisa in Pakistan; and mobile money platforms operated by Airtel and MTN in several African markets, including Rwanda, Uganda and Madagascar.

The integration addresses persistent frictions in cross-border remittances, such as high fees, limited access to banking infrastructure and reliance on cash-based payout locations. By enabling wallet-to-wallet transfers, iFAST Global Bank removes the requirement for recipients to hold a traditional bank account, reflecting the growing role of digital wallets as primary financial tools in many developing economies.

According to the bank, most transfers are completed within the same day, depending on the destination market. Cross-currency international payments made through the platform are offered without transfer fees, a factor that could appeal to cost-sensitive remittance users amid increased regulatory and pricing scrutiny across the payments sector.

“The EzWallet expansion reflects our commitment to building a truly global bank,” said Inayat Kashif, CEO of iFAST Global Bank. “By bringing more digital wallet partners onboard, we are making remittances more affordable and accessible for our customers.”

The development underscores a broader industry trend toward integrating bank-led remittance services with local digital wallet ecosystems, as financial institutions seek to remain relevant in corridors increasingly dominated by FinTechs and mobile-first payment providers.