Tranglo, a prominent cross-border payment hub and a trusted partner of Ripple, is actively expanding its operations into the Middle East by entering into a new collaboration with LuLu Money. LuLu Money is a subsidiary of Lulu Financial Holdings headquartered in Abu Dhabi. It focuses on enhancing the efficiency and effectiveness of cross-border transactions. Through this partnership, Tranglo aims to streamline and accelerate cross-border transactions, representing a significant milestone in its regional growth.
Lulu Financial Holdings CEO Richard Wason said: “Lulu Financial Holdings is dedicated to continuously enhancing our service delivery and upholding exceptional customer satisfaction standards. We are excited about this partnership, which will enable Tranglo to benefit from our extensive network while simultaneously strengthening our payments infrastructure connecting various corridors. Ultimately, this move will help both companies provide faster and more reliable transactions to our valued customers.”
Seamless Cross-Border Payment Solutions
Tranglo has taken a strategic step by strengthening its partnership with a prominent regional player, building on its successful payment corridor launch in the United Arab Emirates (UAE) last August. This collaboration combines the distinctive capabilities of both organizations, positioning them as leaders in delivering seamless cross-border payment solutions. By leveraging their respective strengths, they will offer businesses and individuals seeking efficient, fast, and secure international fund transfers a valuable and beneficial solution.
Tranglo introduces its cutting-edge Tranglo Connect solution, a platform that revolutionizes the payment process through direct API access. Setting itself apart, Tranglo excels in processing an impressive 80% of payments in real time, surpassing the global industry standard. Additionally, Tranglo provides cross-border payout services, harnessing the power of RippleNet. Notably, Tranglo enjoys a longstanding partnership with Ripple, with the crypto company holding a substantial 40% stake in the organization, further highlighting their close collaboration.
LuLu Money is well-versed in payment technologies as well. With their Digit9 platform, the company offers an API-first solution that empowers financial institutions to expand their services to other financial entities and fintech firms. This impressive platform facilitates seamless remittance-as-a-service, enabling LuLu Financial Holdings to extend its reach to customers worldwide through its extensive network. LuLu Financial Holdings boasts a network of physical branches and digital payment solutions across multiple GCC countries, including Oman, UAE, Kuwait, Qatar, and Bahrain. Annually, they process over 12 million transactions across various segments, solidifying their position as a trusted player in the industry.
