SINGAPORE - Local FinTech enterprise, Pay2Home, has launched Money Transfer Machines (MTMs) which allow foreign workers to remit money to their home countries.
The first machine was launched two weeks ago at North Coast Lodge in Woodlands, and another will be launched on Wednesday evening (April 26) at Averic Woodlands Dormitory, also in Woodlands.
These machines allow users to access multiple remittance services, directly through the kiosks.
Services offered include money transfers, foreign exchange rates, transaction payments using bank accounts and checking transaction histories.
The machines will allow workers to skip the long queues often seen at remittance agents, saving them many hours.
Each machine comes in eight languages - Bahasa Indonesia, Tagalog, Vietnamese, Mandarin Chinese, Hindi, Bengali, Burmese, and English.
The project was first conceived in mid-2014, with a pilot launch in January 2015. The total project cost about $5 million.
Correction note: This story has been edited to refer to Pay2Home Group as local FinTech enterprise, instead of local start-up. We are sorry for the error.
