$7 billion remittance industry set for massive shake-up

Australia’s $7 billion money transfer industry is set to undergo a major transformation as a new wave of online and digital-based players enter the market.

According to Profile Booster CEO Ashley Jessen, the retail remittance industry is a prime candidate for fintech disruption and innovation.

“A few years ago, most fintech companies focused on developing products and services for investment, wealth creation, and the stock market. But now more and more fintech companies are coming up with payment and remittance solutions. I am.”

“The remittance sector will definitely benefit from more advanced technology and innovative solutions being introduced around the world,” says Jessen.

The World Bank estimates the size of the global remittance industry to be approximately $600 billion.

Although the majority of remittance transactions still occur through physical distribution networks such as money kiosks, remittance centers, and banks, online remittance services for these channels are also growing.

But a closer look reveals that while banks enable international payments with glossy mobile apps, the technology and practices behind the scenes are decades old, slow, opaque, and expensive. You can see that.

Flash Payments is a company focused on making foreign exchange easy, fast, and affordable, and it’s the kind of company that truly takes you into the future.

“We do things differently. We put a great user experience at the heart of our approach at Flash Payments,” said Nicolas Steiger, founder of Flash Payments. “There is no opaque, siled, inefficient banking here.”

Based in Sydney, Australia, we designed Flash Payments from the ground up to provide intelligent foreign exchange transfer payments with no hidden fees. Using the revolutionary Ripple technology platform, we offer users extraordinary transparency, speed, and trading control, establishing a new level of trading. Service standards. ”

Flash Payments allows users to choose the date of the transfer. Select a rate. Send funds like email. Track transfers like packages. There are no surprise fees. There is nothing.

This is in stark contrast to banks, where international payments are costly, time-consuming, and have hidden routing.

So, whether you are a business or an individual, you can now skip the bank and manage your foreign exchange transfers.

Steiger says, “We are transparent. There is no deception. And we do not charge any hidden fees.”

Learn more about Flash Payments and sign up to benefit from cutting-edge technology, great rates, transparency, and control.

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