Companies team to make money transfers social
Singapore-based Fastacash and international funds transfer brand Xpress Money have teamed to launch a service, called Xopo, that enables users to send and receive money through social networks and messaging channels, including Facebook, WeChat, WhatsApp and Twitter.
In its initial rollout, Xopo users in the U.K. can send funds to others in any country, including the top international money transfer corridors such as India, Nigeria, Pakistan and the Philippines.
"The two companies have come together to leverage our strengths and expertise to deliver this disruptive service into the market," Vince Tallent, chairman and CEO of Fastacash, said in a statement. "Our vision is to make the act of money transfer as simple and immersive as possible."
Both companies said in a press release that plans are in place to expand Xopo to other markets, including the U.S., Canada, Australia and additional European markets. Xopo will also expand its services to include other forms of value, including international airtime transfers and domestic money transfers.
The companies did not reveal a price structure for the cost of transfers.
Topics: Money Transfer / P2P