Berrypay targets rapid growth, aims to support underserved communities
PETALING JAYA: Berrypay, a fintech company, targets to grow rapidly after noticing that many segments of society are still underserved and the whole idea of the company’s system is to get these users to stay connected and accessible.
“The company is focusing more on digital remittance as Berrypay wants to make remittance cheap, easy and quick to every user of the system,” Berrypay chairman Tan Sri Mohd Daud Bakar said in an interview with SunBiz.
He said the main agenda is to grow into digital banking and other payment systems that may use Berrypay’s technology because the engine that the company has developed can be used not only for remittances, but also for financial ecosystems and other payments.
Berrypay founder Azrin Hadi Abdullah said the fintech company aims to expand into Gulf Cooperation Council and Asia-Pacific countries with main focus on underserved areas.
Berrypay has partnered with MasterCard to expand global remittance services, where users will now have a wider reach for international money transfers with users having access to more than 55 countries.
Mohd Daud said sending money to families, friends and business partners across the globe would be easy and accessible through this partnership. “It resonates with the commitment to provide innovative and efficient financial solutions for the global community.”
He said Berrypay’s users can now experience faster processing time for international money transfers, fewer waiting days for funds to reach their destination and transactions can be executed swiftly, ensuring money arrives at the needed time.
“The partnership will also provide security as Mastercard’s global security protocols safeguarding every transaction, means that all transactions are protected every step of the way,” he said.
MasterCard vice-president of account management Devesh Kuwadekar said the collaboration of Berrypay with MasterCard on cross-border services covers more than 60 currencies and will add value beyond transactions by providing solutions that alleviate the pain of using cash.
“The company is focused on innovation, delivering solutions that improve lives and create more secure payments, which a fintech company like Berrypay is driving innovation in payments and businesses,” he added.
