FAIRFX Group PLC FairFX launches same-day China payments service
21 February 2017 - 6:01PM
RNS Non-Regulatory
TIDMFFX
FAIRFX Group PLC
21 February 2017
21 February 2017
FairFX Group plc
("FairFX" or "the Group" or "the Company")
FairFX launches same-day China payments service
FairFX, the FinTech low cost multicurrency payments service, is
pleased to announce that its customers can now make same day
payments directly into mainland China. The latest development now
makes FairFX one of the few providers capable of facilitating
multi-currency transactions, including Renminbi, into the Chinese
market for personal as well as business payments.
Sending payments directly to mainland China is a big issue for
many companies trading with the region. The FairFX payment service
offers a fast, efficient solution to this problem and most are
credited within 20 minutes.
James Hickman, Chief Commercial Officer of FairFX, said: "This
is a fantastic solution for our business customers and gives FairFX
a competitive edge over other providers who are unable to
facilitate such rapid payments into China.
"FairFX sees China as a huge opportunity for growth and this
latest development is further evidence that the Company is
continuing to broaden its geographical reach and use technology to
make efficiencies and drive costs down for our customers."
ENDS
FairFX Group plc
Ian Strafford-Taylor,
CEO +44 (0) 20 7778 9308
Cenkos Securities plc
Max Hartley/Callum Davidson +44 (0) 20 7397 8925
Yellow Jersey PR
Charles Goodwin +44 (0) 7747 788 221
Katie Bairsto +44 (0) 7946 424 651
About FairFX
FairFX is a leading international payment services provider,
incorporated in the UK in 2005. The Company has developed a
cloud-based peer-to-peer payments platform that enables personal
and business customers to make easy, low-cost multi-currency
payments in a broad range of currencies and across a range of FX
products all via one integrated system. The FairFX platform
facilitates payments either direct to Bank Accounts or at 30
million merchants and over 1 million ATM's in a broad range of
countries globally via Mobile apps, the Internet, SMS, wire
transfer and MasterCard/VISA debit cards.
FairFX operates within the rapidly growing online multi-currency
payments market and provides transactional services to both
personal and business customers through four channels being
Currency Cards, Physical Currency, FairPay and Dealing. The
Currency Card and Physical Currency offerings facilitate multiple
overseas payments at points of sale and ATM's whereas the FairPay
and Dealing products support wire transfer foreign exchange
transactions direct to Bank Accounts.
For Corporates, FairFX has a market-leading business-expenses
solution based around its corporate prepaid card allied to a
platform allowing the Corporate to better control expenses and
improve transparency whilst removing administrative burdens from
staff.
In addition, FairFX has entered into a number of "white-label"
arrangements for the use of its P2P matching platform. Partners
include easyjet, ThinkMoney, Pitney Bowes and Quintessentially.
FairFX has also partnered with Concur Technologies, Inc. a leading
provider of integrated travel and expense management solutions with
over 25 million users globally. Such relationships provide strong
support for FairFX's customer acquisition strategy.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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