Instarem strengthens Malaysian SMEs; forays into global market
By Gloria Mathias
Instarem, a cross-border payments provider has strengthened its ties with Malaysian businesses to revolutionise their operations, paving the way for global expansion.
With business solutions tailored exclusively for Malaysian SMEs, Instarem is equipping local businesses to overcome common hurdles, including financial constraints and the high cost of doing business.
- Transforming financial constraints into opportunities
Instarem enables Malaysian SMEs to leverage their established credit. Through the Instarem platform, local businesses can use their Malaysian Visa or Mastercard for transactions, affording them a valuable 55-day grace period of interest-free credit. This strategic approach effectively narrows the divide between constrained cash flow and the potential for business expansion.
- Unlocking growth and expanding global reach
Instarem’s solution acts as a catalyst, enabling Malaysian businesses to explore untapped opportunities beyond their borders and facilitate payments to over 160 global markets. This includes the upcoming addition of the Saudi Riyal (SAR) currency. This strategic addition will open doors to the lucrative Halal market, providing Malaysian SMEs with opportunities to make payments in the Middle East and thrive globally. Additionally, businesses can receive payments in eight currencies, converting them in seconds without the hassle of setting up local bank accounts in different countries.
- Streamlined cross-border transactions for efficiency and scale
Instarem has the capacity to process batch payments, allowing businesses to disburse funds to as many as 1,000 recipients simultaneously and up to MYR 10 million daily. This functionality streamlines the payment process, reducing the manual effort involved.
- Ensuring transaction security is a fundamental requirement
Instarem is licensed and regulated in 11 countries, including Malaysia, where it holds a license from the Central Bank of Malaysia, emphasising the paramount importance of transaction security, ensuring strict compliance with regulations, and providing Malaysian SMEs with peace of mind as they expand their operations globally.
Yogesh Sangle, Head of Instarem, shared, “Over the last six years, Instarem has pursued a mission to simplify financial solutions for Malaysian small businesses. Through the relaunch of our business payments platform, we are taking a significant leap towards transforming these ambitions into tangible success stories for our Malaysian SME partners.”
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November 29, 2023
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