Panda Remit

Singapore-based Panda Remit benefits from Worldpay’s enhanced processing, optimised authorisations and robust fraud protection capabilities that help support their strategic growth

Headquartered in Singapore, Panda Remit is a global money transfer and fintech business dedicated to providing secure, fast and convenient cross-border remittance services in more than 40 countries across Asia, Oceania, Europe, North America and South America.

Operating fully online via a mobile app and website, the company enables users – including expatriates, international students, overseas workers and others – to easily send money to family, friends, or businesses abroad by offering competitive exchange rates and low transaction fees.

Panda Remit also serves individuals and small businesses engaged in international trade, or with financial ties across borders.

Additionally, an affiliated Panda Remit organisation – Starryblu, a global financial services platform – helps individuals manage, move and spend money internationally through a single, all‑in‑one account, negating the need for multiple bank accounts in different countries.

Issues to overcome

According to CEO Ken Zheng, before starting with Worldpay more than three years ago, both Panda Remit and Starryblue encountered challenges at the front-end user payment stage, which directly impacted both the firm’s operational efficiency and their customers’ overall satisfaction levels.

“Previously,” he observes, “our clients experienced high friction with the payment procedure where many users, especially those less familiar with digital banking or local languages, struggled with the process.

“Due to those payment-related errors,” Ken remarks, “we frequently encountered a host of issues, such as incorrect payment amounts, misidentified payments, payment delays and failures, elevated fraud risk and compliance challenges and suboptimal user experience and conversion rates.”

What Panda Remit was looking for in a new payments solution

In seeking a new payments system, Ken notes that Panda Remit prioritised finding a well-rounded solution that could fundamentally enhance the company’s operational resilience – plus support their strategic growth.

“Specifically,” he says, “we sought an all-encompassing and proven payments platform that would optimise authorisation performance, provide robust fraud management capabilities, facilitate global payment orchestration, is built on a scalable and resilient infrastructure, provide actionable insights and reporting, deliver a streamlined integration and offer responsive technical support capabilities. We definitely found that with Worldpay.”

Extension of existing relationship leads to expansion into new markets

Building on the value Worldpay subsequently delivered by processing card payments and providing additional services for Panda Remit in the USA and Canada, the company then expanded into Australia, Hong Kong and Singapore – with Worldpay as their trusted payments advisor.

“Based on our positive existing business relationship, we relied on Worldpay to help us expand into key new markets for us,” Ken relates.

More payment methods also available

Ken then acknowledges that by working with Worldpay, Panda Remit can offer their customers added payment choices.

“The traditional money remittance industry typically offers bank transfers. With Worldpay, though, we also can offer our customers more options for remittance, including Mastercard, Visa, Apple Pay, Google Pay and EFTPOS Australia.”

Worldpay capabilities implemented

After turning to Worldpay to be their payments partner, Panda Remit has deployed the company’s fraud prevention, reporting and insights, authentication and credential management capabilities.

“Overall, the Worldpay implementation and integration process went smoothly,” Ken shares. “The technical onboarding was clear, and we were able to align our systems without major issues. The collaboration was efficient, and the Worldpay team provided solid support throughout the entire process.”

Benefits of partnering with Worldpay

In enumerating some of the advantages of working with Worldpay, Ken is quick to cite the following primary benefits.

“Worldpay’s solutions have not only greatly enhanced our payment processing capabilities, but we can also easily expand now into new markets due to our broad and deep Worldpay relationship,” he says. “By offering diverse and optimised payment methods, Worldpay has helped reduce user friction and increase the successful completion of transactions, while their fraud tools provide us with robust protection, thus minimising financial losses and strengthening our security posture.

“Additionally,” Ken continues, “Worldpay’s unified payment gateway helps streamline operations, simplify reconciliation and reduce the operational burden associated with manual payment processing and error handling. Finally, by offering more convenient and direct payment options, we’re able to provide our users with a much better overall experience.”

Dedicated relationship managers and thought leadership reports cited

Ken offers the following summary of his experience with Worldpay.

“The Worldpay relationship management team has been exceptionally dedicated in helping us resolve any issues, drive project progress and share payments insights throughout our collaboration. Furthermore, the various Worldpay-produced, thought leadership industry reports provide us with a comprehensive and invaluable view of different and emerging global payment trends, which support us in shaping more informed and forward-looking business strategies.

“Worldpay,” he says in closing, “provides us with the extensive payment solutions we need and a strategic partnership that’s essential for our global growth and operational excellence.”

At a glance

Objective

Find an all-encompassing and proven payments platform that optimises authorisation performance, provides strong fraud management protection and facilitates global payment orchestration.

Worldpay solutions

Enterprise Payments Capabilities; Fraud Prevention; Reporting and Insights; Authentication; Credential Management

Impact

• Enhanced processing
• Detailed payments insights
• Reduced friction
• Improved customer satisfaction
• Proactive support

“Based on our positive existing business relationship, we relied on Worldpay to help us expand into key new markets for us."

Ken Zheng, CEO, Panda Remit

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