Thailand-based payment solution company T2P Co Ltd announced a strategic partnership with Wise Platform, an infrastructure provider for banks, Fintechs, and enterprises.
Announced Thursday, this alliance positions T2P as the first in Thailand to offer international money transfers without exchange rate markups or hidden fees through its application, DeepPocket.
The integration utilizes the robust application programming interfaces (APIs) provided by Wise Platform, allowing DeepPocket users to execute transparent and cost-effective money transfers.
Users can now send money from Thai Baht (THB) to 16 different currencies, including major ones like USD, GBP, EUR, AUD, and SGD, among others.
A significant feature of this partnership is the speed of transactions, with over 60 percent of transfers sent through Wise being completed in less than 20 seconds.
Taweechai Pureetip, CEO of T2P Co., Ltd., highlighted the benefits of this collaboration.
“At T2P, our mission has always been to empower our users with seamless, fast, and convenient payment options. Partnering with Wise Platform allows us to extend these benefits to international payments, providing our customers with an efficient and user-friendly experience,” Pureetip explained.
He also detailed the broader implications of this partnership for T2P’s service offerings.
“This collaboration with Wise Platform is a critical step in our ongoing effort to build a one-stop financial platform for our customers,” Pureetip added.
The service is particularly aimed at supporting individuals with international financial needs, such as parents with children studying abroad and expatriates remitting funds to their home countries.
Samarth Bansal, General Manager of Asia Pacific (APAC) at Wise Platform, also expressed his enthusiasm for the project.
“With the digital remittances market in Thailand projected to grow by 5.71 percent, there is a significant need for quick and affordable international money transfers in multiple currencies,” Bansal noted. “We’re thrilled to join hands with T2P to drive these faster, cheaper, and more transparent services to their customers.”
This strategic partnership is expected to significantly enhance the international payment capabilities of DeepPocket users, streamlining transactions and reducing costs in a growing digital remittance environment.