Building Stronger Australian-Singaporean Financial Connections with Flash Payments
Flash Payments helps bridge the gap between Australia and Singapore, offering a simple way for people in both countries to exchange funds. Learn more in our blog.
The evolving and dynamic relationship between Singapore and Australia offers many opportunities for people on both sides of the Timor Sea to benefit professionally and personally. While students, businesspeople and families looking overseas will all have diverse goals, they’re united by a common need for fast, reliable and safe international money transfers.
Flash Payments is here to assist. Our flexible and secure transfer system is ideal for everything from paying tuition, to sending gifts, investing in businesses and purchasing real estate. Read on and learn how Flash Payments could power your cross-border lifestyle, helping you send money from Australia to Singapore.
Keeping you in touch with those back home
If you’re one of the thousands of Singaporean-Australians working and studying in our country, it can be hard to feel like you still have a life back home. From holidays to cultural days, special occasions and milestones, there’s a lot you can feel like you’re missing out on when you live overseas, even if you know you’re coming home.
Even with FaceTime and instant messenger, it can be difficult to feel like you’re a part of those big days, especially when the custom is to provide a gift. Several mobile payment apps such as such as WeChat and Alipay have attempted to address this need, with both networks allowing users to send digital hóngbāo to their friends. Also referred to as red envelopes, hóngbāo are small monetary gifts traditionally given at weddings, graduations, births and holidays such as Chinese New Year.
With Singapore’s large population of Chinese Singaporeans and overall embrace of Chinese culture, many Singaporeans regardless of ancestry commemorate special occasions with red envelopes. Additionally, the custom has been adopted by Malay Muslims and Indian Hindus in the form of green and purple envelopes, respectively.
While always thoughtful, where the services provided by Alipay and WeChat fall short is for when you want to show more than a little affection. In an attempt to combat corruption, WeChat has instituted a RMB200 (SG$40/AU$40) limit on red envelopes, with Alipay operating under similar restrictions. If you’re overseas and can’t make it to a friend or relative’s wedding but want to show your appreciation, you may want to give more than 40 SGD.
This is where Flash Payments can help you. For truly special moments that need a truly special gift, there’s no better choice than our payment network. Built on the most advanced, secure fintech, Flash Payments ensures that gifts of every size arrive promptly and safely, so you can always show how much you care.
Your connection to Asia and the world
Singapore is an international financial and business hub. One of the most successful economies in Asia, its reputation for innovation and ease of doing business has led it to become the regional home of many of the world’s largest firms, including BMW, Microsoft, GlaxoSmithKline and the Walt Disney Company.
Photo by Peter Nguyen / Unsplash
This extreme concentration of capital has made Singapore a vital link in the chain between western corporations and rapidly expanding Asian markets – particularly China. Singapore’s low headline corporate tax rate (17 per cent) further offset by generous full and partial exemptions alongside its liberal foreign ownership laws has allowed even smaller businesses to quickly develop an Asian base. Additionally, its multicultural and outward-facing society has made it a popular first step for businesses new to the region, allowing them to more gradually adjust to differences in business culture between the west and Asia.
Over the past two decades, Australia has deepened its political and economic connections with Singapore, with the city-state one of our top ten import sources and export markets. Additionally, our geographical proximity and similar level of development combined with the need to forge closer ties with China and other Southeast Asian nations are likely to see our cooperation deepen over the next few years.
With this increased trade volume comes a heightened need for tools that empower the international flow of capital. Local professionals and firms looking to make their mark in Singapore and more broadly across Asia would be well served by choosing Flash Payments to power their transactions.
A fresh approach to international money transfers, Flash Payments offers our customers the security, speed and ease-of-use they need to compete in one of the fastest-moving markets in the world. Whether you’re looking to establish a foreign-owned subsidiary company and need a reliable way to pay your registration costs, or you’re an Australian business seeking a partnership with one of Singapore’s world-leading biotechnology firms, Flash Payments helps you achieve your goals.
Building a life in one of the world’s most exciting cities
Similarly, individuals looking to build a better life for themselves and for their families would be well-advised to consider Singapore. Just as many businesses see Singapore as a crucial first-step into Asia, many individuals looking to capitalise on opportunities to grow their personal wealth are considering moving to the city-state.
Amongst the west’s leading businesspeople, there’s a growing movement towards settling or at least maintaining a residence in Asia. A watershed moment was American investor Jim Rogers famously declaring in 2010 that “moving to Asia(…)means my heirs are going to be much better off in the next 100 years”.
Developing a life in Asia means moving significant amounts of money across international lines. Whether it’s securing a condo for you and your family, buying a car, investing in a local business or just taking care of moving expenses, you need a reliable and fast system that scales with your needs.
Flash Payments delivers, providing the flexibility and safety you need to move even the largest amounts of money to your new home. Build the life you want for you and your loved ones with help from one of the world’s leading money transfer services.