Instant Cash, a company within the FINTX portfolio, the fintech arm of Emirates Post Group, launched its new Open API platform (IC API). As one of the fastest-growing money transfer companies in the GCC, Instant Cash’s new API simplifies the process of integrating money transfer capabilities especially for digital partners, making money transfers more accessible and efficient for end-customers. The launch, which took place during the company’s participation in Fintech Surge 2023 in Dubai, comes after Instant Cash’s recent achievement of acquiring its Retail Payments Services and Card Schemes (RPSCS) licence from the UAE Central Bank, the first Money Transfer Operator to do so.
The IC API delivers an array of features and benefits that distinguish it as the ideal solution for companies in search of money transfer solutions. The 70+ countries within Instant Cash’s network are now more accessible than ever. In building these new APIs, a developer-first approach was used which led to the creation of the IC API Developer Portal where developers can easily access all the documentation needed for a faster integration. A sandbox is also available for developers to ‘play’ with the APIs and understand the benefits it would bring to their own applications before fully committing to an integration.
The IC API is part of a major digital transformation drive to supercharge Instant Cash’s international expansion. The new platform launched will be the basis for a range of new services allowing partners to grow their businesses by providing more unique services to their end-customers. The platform will be developed further as well with software development kits (SDKs), targeted at digital partners and fintech startups to ease the integration with their digital customer-facing applications.
Ahmed Al Awadi, Managing Director and CEO of FINTX, and Chairman of Instant Cash stated: “At FINTX, our aim is to ensure our companies become fintech-first. With our Instant Cash portfolio company, the focus is to transform and improve money transfer services between and within nations and we are proud to announce a significant step toward this goal with the launch of the IC API. The Open API platform will enable our partners to provide their customers with seamless, effective, and cutting-edge money transfer services, in keeping with the vision of making every financial transaction convenient and accessible. The launch marks a strategic step in our digital transformation journey, positioning us as industry leaders and unlocking immense potential for our partners and customers.”
The launch of the Instant Cash API at Fintech Surge 2023, an industry-defining platform for financial innovations, signalled the start of a new era in cross border and domestic money transfers. To know more about how Instant Cash can help support the growth within the money transfer space, visit https://www.fintx.ae/our-portfolio/instant-cash.
