Denmark’s Red Cross Joins Hands With Inpay For Seamless Funds Transfer
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
A branch of Red Cross in Denmark, one of the world’s largest humanitarian networks with 16 million volunteers across 192 countries, has revealed a strategic partnership with Inpay, a major FinTech enterprise in Denmark and the United Kingdom.
This FinTech company is known for its secure and efficient international money transfer services. This Partnership addresses the challenges of sending aid funds to remote areas. It also guarantees saving several million Danish Kroner yearly for the Red Cross.
The process will subsequently be redirected towards humanitarian efforts, ensuring a greater availability of funds for those in need.
Denmark’s Red Cross branch has proudly maintained a remarkable roster of approximately 40,000 volunteers assisting during crises. The unit also plays a vital role in supporting areas affected by conflicts and natural disasters.
The Partnership To Enable Safer Cross-Border Funds Transfer
Inpay leads the way in FinTech innovation, offering cost-effective cross-border solutions safe, and fast payment solutions. The firm is ranked the sixth rapidly expanding FinTech company in Europe in 2021 by Financial Times.
Its extensive global network has transformed how businesses, NGOs, and financial institutions manage international transactions.
The primary target of this Partnership is in areas where conventional bank transfers face limitations, like Ethiopia, Bangladesh, and Myanmar. However, with Inpay’s advanced network and technology, the Red Cross can seamlessly share funds safer, faster, and at an affordable rate than ever before. The collaboration is set to expand this innovative payment solution to other countries where the Red Cross is active.
A notable feature of Inpay’s technique is its extensive global network of local banks worldwide, enabling fast transfers. This technique substantially reduces cost compared to traditional international bank fees, allowing the Red Cross to avoid actual currency conversion charges.
The Red Cross to Enable Low-cost Transfers
Louise Isafold, the Chief Financial Officer of the Red Cross, expressed that the company works in regions where traditional bank transfers are not always viable. This often results in high costs when funding some programs.
Isafold expressed satisfaction in collaborating with Inpay, as it seamlessly complements their regular banking relationship, ensuring fast, reliable, and low-charge transfers in local exchange to areas such as Ethiopia, Myanmar, and Bangladesh.
Furthermore, as this Partnership expands its innovative move into other countries, it is poised to influence people’s lives positively.
By utilizing Inpay’s innovative network and technology of traditional banks, the Red Cross helps to ease the challenges of global aid funding. This groundbreaking move helps control high costs and currency conversion fees.
