Ex-Pay has created an end to end currency conversion clearing and cash out service increasing margin and reducing overhead and risk. How it works – (Nice diagram needed) (think about making a movie with Old and New way.)
- Select the currency and conversion rate
- Process the customer’s credit card
- Provide the cash or a prepaid debit card.
Paperless currency conversion.
Advanced KYC (Know Your Customer and AML (Anti money Laundering) procedures are in-place to reduce fraud and money laundering.
|THE EXISTING PROBLEM||THE SOLUTION|
|Change Bureaus suffer from a bad reputation due to grey market and money laundering.||The Change Bureaus work under the Ex-Pay brand.|
|As a high risk business, banks are reluctant to provide lines of credit. When they do its with high rates.||Ex-Pay has a large line of credit as all our receivables are backed by credit card slips.|
|Credit card transactions require them to finance their inventory.||Ex-Pay transfers the funds to the Change Bureau immediately.|
Plastic Cash-in, Plastic Cash-out and everything in-between.