Through a new partnership with LuLu Money, Tranglo, a prominent centre for international payments and a dependable Ripple partner, is moving forward with its Middle Eastern growth. By partnering with LuLu Money, a division of Abu Dhabi-based Lulu Financial Holdings, Tranglo hopes to streamline and speed up international transactions, marking a significant development in its regional footprint.
After launching a payment corridor in the United Arab Emirates (UAE) in August of last year, Tranglo made a strategic decision to strengthen its relationship with this significant regional player. By using each company’s distinct advantages, this agreement catapults them to the forefront of frictionless international payment solutions.
The platform Tranglo Connect from Tranglo utilises the whole payment process through a direct API connection. Notably, Tranglo outperforms the worldwide industry average by processing an amazing 80% of its payments in real time.
Additionally, Tranglo uses RippleNet to provide cross-border payout services. It is important to note that Ripple has been a longtime supporter of Tranglo and currently holds a sizeable 40% investment in the firm.
Payment methods are nothing new to LuLu Money either. The business runs Digit9, an API-first platform that enables financial institutions to provide their services to fintech companies and other financial organisations. Through the enormous network of LuLu Financial Holdings, this exceptional platform enables smooth remittance-as-a-service, extending their reach to consumers all over the world.
