We allow our users to exchange their local currency for foreign currency digitally, with a flat nominal fee, allowing our users to get better rates and pay no spread on peer-to-peer exchange. This lets our users have more disposable FX to spend!
Issues with FX conversion
- High costs
- FX rates with significant spreads
- Difficulty in execution
- Unscrupulous players – Non-regulated business running FX as a sideshow
- Opaque delivery time – No firm time for delivery of funds in cross-border locations
- A single fixed fee, shown upfront at the time of booking.
- Matched FX will remove the need to compare FX rates by giving zero spread in a peer-to-peer model. The customer can choose their rates and make offers.
- Digital offering – Delivered via a mobile app. It removes physical travel and waiting. It also eliminates the need to handle cash while collecting or spending Forex.
- Matched FX will be registered with the relevant regulatory body in every country it is present in. Compliance with individual country-level requirements will be inbuilt into the system.
- Matched FX will settle in minutes. In countries that support fast payment, customers will see a credit in their account in a matter of a few minutes.