Transpay’s API & Direct-to-Bank Network Enables Payouts to Reach Freelancers’ Bank Account, in Desired Currencies
Transpay, a cross-border payments platform that offers the world’s largest, independent direct-to-bank payment network, today announced it is enabling mass payouts for Microworkers, an international online marketplace that connects freelancers with “micro jobs.”
With more than 742,000 users worldwide, Microworkers is an innovative platform for employers to post simple and quick tasks that freelancers can often complete in a few minutes. These online jobs range from downloading applications, testing website functionalities, product tagging and various data entry jobs.
Microworkers’ network of freelancers is spread across India and Southeast Asian countries such as Bangladesh, Philippines and Indonesia. With the need to send high-volume, low-value payout, Transpay is providing Microworkers with an alternative to other fee-laden payout methods.
“For a platform like Microworkers that sends thousands of frequent, low-value payouts, traditional payout options such as SWIFT bank wires, eWallets and prepaid cards too often come with hidden fees, lack of transparency, and inexcusable lag times,” says Nagarajan Rao, SVP of Transpay. “Instead, the convenience of receiving payouts directly into a freelancers’ own bank account and desired currency, continues to be a top preference when using online marketplaces, especially for freelancers in emerging markets.”
Through Transpay’s API, Microworkers is able to tap into a proprietary bank network, capable of sending payouts to 120+ countries in more than 60 currencies.
“As employers and freelancers turn to our platform for microtasks, Transpay is adding an important level of convenience to the payout process and our freelancers enjoy being able to easily access their funds in their bank accounts,” says Nhatvi Nguyen, CEO of Microworkers.