MoneySwipe is a cross-border payment application established
across the UK - India and Euro - India corridor to help
individuals & businesses make remittance payments quickly with
International money transfers tend to be costly: on average, globally, currency conversions and fees amount to 7% of the total amounts sent. And in remittance corridors where the local banking system is not robust, the fees can be as prohibitive as 20%.
A recent study by allied market research states, “The global remittance market was valued at $701.93 billion in 2020 and is projected to reach $1,227.22 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030”. In addition, remittances to low- and middle-income countries reached USD 589 billion in 2021.
With MoneySwipe, we are on a mission to bring much-needed efficiency to the remittance industry by leveraging BSV Blockchain technology to reduce the cost of remittance and improve the payment experience whilst enabling a system for CBDCs and micro-payments.