Smart Transfer launches cross-border m-payment app
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Smart Transfer has introduced a person-to-person mobile payment platform that supports international social payments across multiple currencies at no charge to users.
The Smart Transfer app allows international money transactions to be made to any bank account, phone number, email address, or social media platform.
The Smart Transfer app allows users to send money to recipients via all social media platforms, mobile numbers, email addresses or conduct cashless payments through QR code at partner merchants. There is no need to know the receiver’s SWIFT codes, bank codes, branch codes or account numbers.
While overseas money transfers typically take two to five working days, Smart Transfer’s cross-matching engine and integration with various banks across different countries, moves money to overseas bank accounts within seconds.
Smart Transfer’s peer-to-peer model eliminates the numerous middlemen and excessive fees involved in conventional international money transfers, streamlining the traditionally lengthy process and saving users significant time and money. Smart Transfer’s proprietary currency cross-matching engine also touts favorable exchange rates, passing the savings on to the consumers.
Smart Transfer features a multi-currency wallet, enabling users to send and receive money across seven currencies (HKD, CNY, SGD, USD, GBP, IDR, and AUD). User monies are held with trusted bank partners such as Hang Seng Bank, Standard Chartered Bank, and Bank of China, providing a layer of assurance to users over safety of their funds.
The app also features a built-in chatbot that is able to execute transactions according to a user’s instructions. It is integrated within Facebook Messenger and Telegram to break down language barriers, leveraging AI-based natural language processing technology to process four different languages (English, Chinese, Japanese and Indonesian).
Smart Transfer is currently supported across the United States, United Kingdom, Hong Kong, Australia, Singapore, and Indonesia, with plans to expand its offerings to more than 212 countries and up to 30 currencies by end of 2017.
Questions & Answers
Q.Does the app charge fees for international money transfers?
Does the app charge fees for international money transfers?
No, the Smart Transfer app supports international social payments across multiple currencies at no charge to users. Its peer-to-peer model eliminates excessive fees involved in conventional transfers.
Q.What happens if a user's chosen currency is not one of the seven supported?
What happens if a user's chosen currency is not one of the seven supported?
The article states the app supports seven specific currencies: HKD, CNY, SGD, USD, GBP, IDR, and AUD. It does not specify what happens if a user tries to use an unsupported currency.
Q.What is the security of user funds held by Smart Transfer?
What is the security of user funds held by Smart Transfer?
User monies are held with trusted bank partners such as Hang Seng Bank, Standard Chartered Bank, and Bank of China. This provides users with assurance over the safety of their funds.