Singapore digital firm InstaReM joins Visa's fintech fast-track programme

SINGAPORE digital cross-border payments firm InstaReM announced on Friday that it is joining Visa's fintech fast-track programme in Asia Pacific.

The programme makes it easier and faster for fintech partners to build and deliver new solutions on Visa's payments network.

As part of the Visa fintech fast-track, the two companies will work together to build new solutions for moving money to and from different countries in fast, convenient ways that aim to provide users with seamless digital payments and money transfer experiences.

Prajit Nanu, co-founder and CEO of InstaReM, said that with this partnership, the startup will be able to issue cards to its partners in just four weeks of them being in the programme, instead of the typical six to nine months it takes now.

Hamish Moline, head of digital partnerships, Asia Pacific, Visa, said: "Even with all the digital forms of payment that exist today, transferring money internationally can still be a time-consuming, inefficient process."

He added that the two firms are keen to work together to tackle an area of payments "where there is still a lot of opportunity to bring innovation to the customer experience".