Melbourne: One of Southeast-Asia’s leading digital cross-border payments companies with a growing presence in Australia has revealed that focusing on customer experience and convenience has been integral in the firm’s growth and success in the Australia-to-South Asia/ India corridor. Vinoth Manoharan, Country Manager of InstaReM, said, “The South Asia/ India corridor is very exciting for InstaReM, and we strive to deliver the best-quality experience to our Indian and other South Asian customers.”
InstaReM, which started its operations with Australia-India corridor in 2015, enables consumers, businesses and banks to make international money transfers at a low cost. InstaReM’s growth in Australia echoes a global trend of accelerated remittance growth, especially into the South Asian region where it topped 13.5 percent last year.
India is the second largest global remittance market for Australia, with AUD$2.74 billion transferred from Australia to India in 2017. World Bank statistics show migrants in Australia sent close to AUD$23.816 billion overseas in 2017.
During the briefing session, InstaReM laid out the firm’s focus on understanding and delivering on the unique needs of the South Asian/Indian diaspora in Australia through unique positioning of five core benefits:
*Zero-Margins on foreign exchange rates
*Low Transaction Fees
*Absolute Transparency in Costs
*Speed of Settlement