Prajit Nanu

Digital cross-border money transfer company, InstaReM has launched its API-based digital platform with an aim to enable startups, fintechs and enterprises in launching their own cards.

According to the supplier, the new platform will allow InstaReM’s partners to utilize the company’s digital ecosystem without the need to obtain multiple local licenses for the issuance of payment cards. It aims to facilitate the peer-to-peer transfer of money.

Prajit Nanu, co-founder and CEO of InstaReM, said, “We strongly believe anyone – whether a start-up or a large corporate – who wants to have its own branded cards program, should be able to do so. InstaReM is there to offer the necessary infrastructure. Our card-issuing platform is flexible, scalable and designed to support the ambitions of our enterprise partners, especially in the Fintech sector. And it’s quick to get started. It’s possible for businesses to start issuing payment cards in as little as four to six weeks once they register with us.”

The cards will be available in virtual and physical form and will allow the consumers to accumulate loyalty points and utilize them as a multi-currency travel card and a virtual card. Business users can use cards for business-related travel & expenses, payroll, and payouts and disbursement to their employees and vendors.

Recently, Thailand-based banking group, KASIKORNBANK (KBank) has selected InstaReM for powering its cross border payments across select markets.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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