Payment services provider 2C2P has launched a new cross-border remittance service called easy2send to enable money transfers between Thailand and any country.
Users can make remittance requests at more than 10,000 payment locations in Thailand. The company noted that receivers will get funds in real-time and not later than the next working day based on the country.
The money will be transferred into the recipient’s bank accounts and mobile wallets. They can also receive cash at participating channels in their country.
According to 2C2P, more than 2.1 million foreign nationals are currently working in Thailand. More than 90% of the foreign workers are from Myanmar, Lao and Cambodia.
The number of expats in the country also saw a significant increase from the previous year. Japanese expats increased the most at 4%, followed by Chinese expats.
To cater to the foreign workers, the company introduced the easy2send service in alliance with both local and international financial and non-financial partners, including CB Bank in Myanmar and Wing Money in Cambodia.
2C2P also collaborated with UK’s KogoPay, Hong Kong and China’s LitePay and Thailand Post.
CB Bank managing director Thein Zaw Tun said: “Through this initiative, we aim to facilitate a safe, secure and affordable money transfer channel for our customers.
“We believe that this initiative can also promote savings and at the same time, they can enjoy higher interest rates as compared to Thailand.”