TranSwap, a cross-border fintech platform, today announced the partnership with PrimeCredit, one of the leading consumer finance companies in Hong Kong, to integrate digital remittance services into PrimeCredit’s innovative new product - Primepay.  

This remittance service was designed for the migrant community to significantly simplify the transfer of funds back home to the Philippines, Indonesia and Macau instantly and at more competitive rates. Their loved ones can now receive money through bank transfer, cash pick-up at TranSwap’s partner banks’ branches or through e-wallets.  The service will be expanded to other major markets in Asia Pacific soon.

In various markets globally, the majority of remittances are still being sent ‘offline’. The introduction of TranSwap’s cutting edge platform enhances the technological capabilities of PrimeCredit, one of the leading finance companies in Hong Kong, and enable it to strengthen its clear market leadership. PrimeCredit users will also enjoy a faster and more secure way to transfer money at reduced fees.

While hidden fees, speed and accessibility of remittances remained the main concerns of the market, TranSwap and PrimeCredit’s alliance is a catalyst to offer greater customer convenience and reliability in the region. With primepay, PrimeCredit is able to offer remittance services to the migrant community simply, effectively, and efficiently.

Commenting on TranSwap’s partnership with PrimeCredit, Mr. Benjamin Wong, Co-Founder and Chief Executive Officer of TranSwap commented that "With our cutting edge fintech platform, global networks and licenses, TranSwap’s mission is to empower our clients with advanced fintech solutions to enhance their current businesses. PrimeCredit is one of the most trusted and most established names in consumer finance in Hong Kong, and we are delighted to be their fintech partner for primepay. Through this partnership, we aim to provide PrimeCredit’s customers with the assurance of seamless, reliable payment capabilities and remittance systems".

Ms. Beril Shen, Chief Executive Officer of PrimeCredit commented, "We look forward to working with TranSwap to build a remittance service that is reliable, speedy, and cost-effective with greater transparency to our customer base. TranSwap’s unique remittance services and allegiance to the migrant community is a matter of great pride and we are excited to see how this partnership transforms the payment services to the community in the region".

Primepay will be accessible through the Prime Gems mobile app that allows its members to manage their PrimeCredit accounts, monitor their reward points from customer referrals and use the earned points to redeem gifts or even convert to loan repayment. The Prime Gems app is available for download on the Apple App Store as well as the Google Play Store.