BigPay, the prepaid Mastercard by AirAsia has expanded its remittance services to include three more countries. After introducing international transfers to the Philippines, Indonesia, Singapore and Thailand, BigPay now lets you send money to India, Nepal and Bangladesh.
BigPay says they are an ASEAN-focused fintech company that wants to democratise financial services across the region. According to digital prepaid brand, they have processed millions in international transfers since September 2019. BigPay charges a fixed fee per corridor with competitive exchange rates which helps to reduce the cost and complexity of sending money abroad.
At the moment, BigPay charges RM0.50 for local bank transfers in Malaysia and RM5.00 per transfer to Indonesia, Singapore and India. Transfers to Nepal and Bangladesh will cost RM6.00, the Philippines at RM8.00 and Thailand RM13.00. The first international transfer is offered for free. Depending on the country, the fund transfer may take anywhere between 5 minutes to 2 working days.
BigPay says they will continue to add more countries soon and they are also working on offering cash pickups in selected markets. BigPay also claims to be the largest e-money issuer in Malaysia by gross transaction value.