Money transfer operators (MTOs) are licensed financial institutions providing cross border transfer of funds (remittances) using either their system or cross-border banking networks.
There are many challenges facing smaller MTOs including banking, cash flow and technology.
The lack of competition and inability to challenge the large Money Transfer Operators is directly responsible for the cost of remittances staying punitively high, at around 8%.
The recent pandemic has prioritized the urgent need for MTOs to adapt to digital solutions and forge new partnerships with Fintech companies and new payment processors in order to offer instant payouts around the world and to reduce costs.
In order for MTOs to be able to scale their business and compete, they need a turnkey solution for global payouts that is easy, fast and cost-effective.
ZED provides instant access to 200+ countries for payouts with multiple payment options including same day payments (Bank transfer, cash payment, Card Top-ups, mobile wallet loads) with a single API integration at reasonable SaaS model pricing.