Instarem, a global leader in cross-border payments, part of Nium Fintech Payments Unicorn, deepens its ties with Malaysian businesses to revolutionise their operations, paving the way for global expansion. With business solutions tailored exclusively for Malaysian Small and Medium Enterprises (SMEs), Instarem is equipping local businesses to overcome common hurdles, including financial constraints and the high cost of doing business.
At the core of Malaysia’s vibrant economy, 1.15 million SMEs play a pivotal role, driving innovation, generating employment, and fostering economic growth. However, 67.4 per cent of Malaysian SMEs state that insufficient cash flow is a top concern for them and 51.3 per cent state the high cost of doing business is a major hurdle for growth, recognising the urgent need to set themselves apart in the market, streamline their operations, and leverage technology effectively to ensure their long-term sustainability.
Instarem, with a track record of servicing Malaysian SMEs since 2017, empowers local businesses in addressing these challenges head-on, with a solution designed explicitly to help them build resilience and unlock their growth potential in a highly competitive global landscape.
Transforming financial constraints into opportunities
The continuous surge in inflation has had a substantial effect on operational costs, leading to an increase in the prices of goods and services and underscoring the critical importance of cash flow management for businesses. Positive cashflow plays a strategic role for a thriving, resilient business – without it, growth stagnates. Instarem showcases its innovative edge by enabling Malaysian SMEs to leverage their established credit. Through the Instarem platform, local businesses can use their Malaysian Visa or Mastercard for transactions, affording them a valuable 55-day grace period of interest-free credit. This strategic approach effectively narrows the divide between constrained cash flow and the potential for business expansion.
Unlocking growth and expanding global reach
By simplifying cross-border payments, Instarem’s solution acts as a catalyst, enabling Malaysian businesses to explore untapped opportunities beyond their borders, facilitating payments to over 160 global markets. This includes an upcoming addition of the Saudi Riyal (SAR) currency. This strategic addition will open doors to the lucrative Halal market, valued at US USD 2.6 trillion providing Malaysian SMEs with unprecedented opportunities to make payments in the Middle East and thrive globally. Additionally, businesses can receive payments in eight currencies, converting them in seconds without the hassle of setting up local bank accounts in the different countries, making cross-border trade highly accessible and efficient.
Streamlined cross-border transactions for efficiency and scale
In the realm of cross-border transactions, advancements in technology have significantly improved efficiency. One notable advancement introduced by Instarem is the capacity to process batch payments, allowing businesses to disburse funds to as many as 1,000 recipients simultaneously and up to MYR 10 million daily. This functionality streamlines the payment process, reducing the manual effort involved. It proves especially advantageous for businesses with international operations or those managing intra-company transfers.
Ensuring transaction security, a fundamental requirement
Prioritising the safety and security of cross-border transactions is a fundamental requirement. Many financial service providers are subject to licensing and regulatory oversight in multiple countries, which guarantees rigorous compliance with local and international regulations. Instarem is licensed and regulated in 11 countries, including Malaysia, where it holds a license by the Central Bank of Malaysia, emphasising the paramount importance of transaction security, ensuring strict compliance with regulations, providing Malaysian SMEs with peace of mind as they expand their operations globally.
Yogesh Sangle, Head of Instarem, proudly reflects on their years of dedicated service to Malaysian SMEs, expressing, “Over the last six years, Instarem has pursued a mission to simplify financial solutions for Malaysian small businesses. Our unwavering commitment aligns seamlessly with Malaysia’s vision for fostering economic growth and expanding on the global stage. Through the relaunch of our business payments platform, we are taking a significant leap toward transforming these ambitions into tangible success stories for our Malaysian SME partners.”
Source: Instarem
