InstaReM enables B2B payments from Europe to China
InstaReM, a digital money transfer provider is now enabling the UK and European businesses to make payments into China.
Making payments to China has been challenging for UK and EU businesses, and there has been a lack on B2B payments solutions until now. In particular, the SME segment has been underserved which has created the need for a platform catering specially to them, where they can make multiple payments to their stakeholders located in other parts of the world. InstaReM has extended its “InstaReM for SMEs” cross-border payments service to UK and European businesses importing from China, making their cross-border payments as easy as the local payments.
Prajit Nanu, co-founder and CEO of InstaReM said, “With trade getting increasingly globalized, businesses need to make payments to multiple stakeholders – suppliers, staff, freelancers etc. – spread across different parts of the globe. Unfortunately, cross-border B2B payments have been challenging, especially for the SMEs, due to the legacy infrastructure that entails multiple touchpoints – each one adding to the overall costs and time taken. Delays in payments means opportunity cost for businesses. Leveraging its world-class digital money transfer platform, InstaReM is offering businesses in the UK and Europe a quick and easy way to make payments into China. We are confident that this service should help EU/UK businesses to build stronger connections with their counterparts in China.”