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, pay no spread on peer to peer exchange. This lets our users have more disposable FX to spend!
Issues with FX
- High cost.
- 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 in 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 few minutes.