CurrencyFair, the world's first peer-to-peer currency exchange, have today said they can save businesses like ApplicancesDelivered.ie up to €20,000 in savings through its revamped business-to-business offering.
At the launch of CurrencyFair’s streamlined business-to-business offering it was revealed that Europe’s most prominent fintech company would save their partner AppliancesDelivered.ie €5,000 in savings annually on international transfers compared to the rates their old broker offered, and €20,000 when compared to the high rates they would have to pay through traditional banks.
As a digitally-led platform, CurrencyFair is also less vulnerable to changes in the market, offering next day exchange whether buying and selling sterling and guaranteed margins all the time. The strength of the peer-to-peer platform was evidenced last June as CurrencyFair remained trading as other platforms decided to suspend trading in the days leading up to Brexit.
Having already moved more than €4.7billion and saved more than €166 million for its consumers, CurrencyFair found a lot of startups and SMEs migrating to their services from traditional banks and remittance providers to make huge savings. Plus CurrencyFair’s technology ensures all customers automatically get the best rate all the time, unlike brokers and banks where you need to keep calling to ensure you get the best rate.CurrencyFair began working with disruptive companies like AppliancesDelivered.ie to help them make savings with the certainty of consistent rate margins.
The result is a new product for businesses with a time saving sign-up service and one of the fastest exchange processes. These changes reflected feedback businesses gave in the past on existing currency offerings where:
- 68% of merchants didn’t believe they get a competitive exchange rate when transferring with banks
- Yet less than 20% of these have looked at alternative service providers (outside banks)
- Primarily because 46% say they don’t have the time to look
CurrencyFair’s Chief Executive Officer Paul Byrne commented, “With businesses increasingly trading internationally and operating at a quicker pace, there’s no reason why they should use currency exchange services that aren’t as concerned about efficiency, cost and delivering for their customers as they are. At CurrencyFair, we are committed to a journey of continued innovation to make big business exchange rates available to all businesses, all of the time on their own terms - whether providing them with the best available rate now or allowing them to name their own rate. We have seen many firms throughout the UK migrate to our platform organically and integrated their feedback into a streamlined offering that understands businesses big or small.”
At the launch CEO of AppliancesDelivered.ie Philip Martin said CurrencyFair’s service actually understood the needs of fellow companies, “AppliancesDelivered.ie chose CurrencyFair as it provides a hassle-free and secure solution to our currency exchange requirements. It’s the perfect fit for our business; just like our own service, it’s fast, easy, and very cost-effective.”
This new offering has a number of great features that will give big business exchange rates for all businesses, all the time, including:
1. Lowest available rates.
2. Guaranteed margins all the time. And ability to name your own rate.
3. Time saving. Communicating the way time-poor customers choose
New businesses can sign up here: https://www.currencyfair.com/