Dan Barnes writes in Raconteur that competition to provide cross-border payments is heating up, presenting businesses with a confusing range of options.
Danny Aranda, managing director of Ripple Europe said “If you look at many innovations over the past 20 years in financial services, it’s largely been at the interface level, meaning a better mobile application or a better online user experience. We really want to bring some element of the internet into the infrastructure of financial services.”
“Consumers’ and businesses’ expectations of how payments should be conducted have changed,” says Ripple’s Mr Aranda. “That’s largely informed by the internet; if I send a text or an e-mail to someone, I expect them to receive it immediately. If I send a package to Cambridge, I expect to be able to track it online for visibility. The internet really informs the way we expect services to be delivered.”
Change is coming to foreign exchange financial services. It will alter the competitive landscape in favour of the consumer forever.
One of the first to offer innovative cross border payments to consumers and businesses is Flash Payments, a cutting edge fin-tech startup based in Sydney Australia. It is engineered from the ground up to deliver intelligent, high speed foreign exchange transfer services, without hidden fees.
When it comes to foreign exchange, Flash Payments systems replace the current opaque, siloed and inefficient networks with a common global infrastructure that brings new efficiencies to financial remittances by enabling near real-time settlements, improving visibility and reducing risk.
Flash Payments provides lean high-performance foreign exchange transfer payment services that safely, efficiently and reliably provides users with a better customer experience.
Flash FX puts their customers in control. They can choose a target conversion rate, automate the international money transfer and track their currency transfer, like a package, from start to finish.
The technology tightly integrates payments messaging with funds settlements, allowing for unprecedented visibility and performance.
Using the innovative Ripple technology platform and XRP, Ripple's digital currency, Flash Payments delivers extraordinary transparency, speed and transactional control to users.