Transfast is an international money transfer and cross-border payments company headquartered in New York, with additional offices in

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. Transfast is owned by Mastercard. The company is a provider of multi-currency, cross-border payments services for consumers and businesses around the world. Remittances are processed through its wholly owned direct-to-bank network, and the company offers 200,000 cash payout points across 120 countries.

History

The company was founded in 1988 as Trans-Fast and focused on money transfers from the U.S. to Latin America. In 2007, the company received a private-equity investment from Greenhill Capital Partners, LLC and changed its name to Transfast Remittance LLC. In July 2019, Mastercard acquired Transfast. Transfast shuttered their online money transfer service on February 14, 2020.

Products

;Transpay Transpay is a B2B/B2P cross-border payments platform. The company’s platform uses robust end-to-end technology to enable instant transfers across its global proprietary network. Customers include

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and Upwork. ;Agent business Transfast has 200,000 payment points worldwide, with agents representing the company around the globe. Customers can send money in person to be received in cash or directly into a bank account. ;Transfast.com The company offers customers the ability to send online, from a desktop, or from a mobile device. In the first quarter of 2016, Transfast was listed by

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

at the top of the World Remittance Prices database for providing the lowest-cost remittances to the Philippines, Nigeria, Egypt and Ghana.

Network coverage

Transfast’s network covers 120 countries across the Americas, Asia, Africa and Europe, and the company holds licenses in more than 70 jurisdictions globally. In Africa, Transfast operates in 23 nations; the company’s bank network covers up to 90 percent of adult bank account holders in those nations. Transfast customers in U.S. and Canada can send online or via mobile to recipients’ bank accounts at nearly 600 banks or to 6,000 cash pick-up locations inside banks in Africa. Transfast is also connected to M-Pesa in Kenya and teamed up with three major Kenyan banks, allowing customers worldwide to make instant money transfers to the country. Transfast has crossed the 45,000-location mark in India and almost four million customers globally.

Awards and recognition

* Kalahari Awards - Best Remittance Service Award - Transfast.com

References

External links

Official WebsiteCrypto Wallet
{{DEFAULTSORT:Transfast Payment systems Online remittance providers Financial services companies established in 1988 Financial services companies of the United States 1988 establishments in New York City