5 FinTechs simplifying B2B Cross-Border Transactions in Singapore

By Gloria Mathias

Singapore’s FinTech landscape has experienced remarkable growth, particularly in the area of B2B cross-border payments. As a global financial hub, Singapore attracts businesses from around the world, creating a strong demand for efficient and secure payment solutions that can facilitate international trade.

The rise of B2B cross-border payments in Singapore is driven by several factors, including the country’s strategic location, a favourable regulatory environment, and its commitment to innovation in financial services. Additionally, the increasing globalization of businesses and the need for seamless transactions across different currencies and jurisdictions have further fueled the demand for sophisticated payment solutions. Singapore’s FinTech companies are responding to this demand by developing technologies that streamline cross-border transactions, reduce costs, and enhance security, making it easier for businesses to operate globally and tap into new markets.

Listed below are 5 FinTechs streamlining Singapore’s B2B cross-border remittances: 

• DSGPay

Founded in 2014, DSGPay is a global payment service provider based in Asia, serving tens of thousands of customers, businesses, and merchants worldwide. It offers real-time payment and collection services, along with multi-currency virtual accounts designed to streamline cross-border transactions. Its solutions cater to the diverse needs of businesses, from large-volume merchants to small and medium-sized enterprises. DSGPay specializes in connecting overseas merchants to Asian payment rails, enhancing their ability to operate seamlessly in the region.

• Instarem

Instarem is a global financial exchange that helps businesses make international payments and receive money in multiple currencies. Its services can help businesses streamline payments, boost operations, and scale. Founded in 2014, Instarem is a Singapore-headquartered cross-border payments company licensed to operate in Singapore, Australia, Malaysia, Hong Kong, Indonesia, Japan, India, Europe, the United Kingdom, the United States, and Canada.

• 8B

8B provides businesses with solutions to accept payments and disburse funds in hard-to-reach countries. They enable cross-border transactions using a variety of local payment methods (LPMs) and support transactions in multiple currencies. 8B is designed for regulated PSPs, FinTechs, and credit institutions, offering a platform that ensures compliance with domestic and international regulations while also providing real-time payment capabilities in regions like Central Asia, India, and Southeast Asia.

• Tazapay

Tazapay is a Singapore-based FinTech company designed to redefine the cross-border payment experience. The platform allows businesses to transact with ease in 173+ countries, offering an array of card and local payment options. Its unified interface simplifies the onboarding process, allowing businesses to partner with just one entity, thereby streamlining their payment process. Tazapay continues to drive global business growth by offering a trusted and accessible platform for cross-border e-commerce transactions.

• Walcy

Walcy is a FinTech company that specializes in offering businesses and individuals a comprehensive and innovative suite of solutions for managing their global financial needs. It aims to combine technology with traditional banking services to deliver a seamless and efficient experience for its clients. With a presence in Singapore, Hong Kong, and the USA, it is strategically positioned to cater to the needs of businesses and individuals worldwide.