Transpay, a cross-border payments platform that offers the world’s largest, independent direct-to-bank payment network, announced it is powering the domestic and international payments processing for InnoCentive Inc., the global leader in crowdsourced innovation and software platforms.
With a global network of more than 365,000 problem “Solvers,” InnoCentive crowdsources from some of the world’s best minds, who compete to provide innovative ideas and solutions to business, social, policy and scientific challenges. Transpay will streamline payouts to InnoCentive’s winning Solvers, with award values ranging from $5,000 to more than $1 million.
“As solvers are being recognized for their solutions to challenging initiatives, Transpay is helping to simplify their payment experience,” says Nagarajan Rao, SVP of Transpay. “We are rapidly and securely delivering monetary awards into Solvers’ banks and currencies of choice.”
Richard G. Barletta, VP Finance of InnoCentive, says, “As our solver network continues to grow around the globe, Transpay’s cross-border capabilities are helping to ensure we’re providing our Solvers with the most convenient and cost-effective payment options.”
Regulated and licensed as a payments institution in 120+ countries, Transpay is a Fintech leader that provides companies with a secure and compliant process to ensure safe money movements.
To learn more about how Transpay is enabling secure and cost-effective cross-border payments for business, visit transpay.global.