TORONTO--(BUSINESS WIRE)--CanadianForex, one of the world’s leading technology-driven international money transfer providers, today announced the launch of “Forex Money Transfer,” the latest advance in currency transfer apps. Forex Money Transfer enables consumers on-the-go to send money in 48 currencies to friends, family and merchants around the globe. CanadianForex is a wholly-owned subsidiary of The OzForex Group, a pioneer in global payments.
The free app, available to download now from both the App Store and Google Play, is designed to complement the global lifestyle of CanadianForex’s customers, many of who make regular currency transfers from Canada abroad for a variety of reasons from purchasing second homes, paying mortgages, tuition, family support, and the purchase of goods and services.
“The payments process has matured from one conducted almost exclusively in a bricks-and-mortar environment to one that can be conducted from virtually any location at any time,” said OzForex Group CEO, Richard Kimber. “Not that long ago, the notion of buying books, apparel, or food online seemed like science fiction. Today, that way of transacting has not only become fundamental to our buying behavior, but now we’re using our phones as much or even more than computers to make those same purchases. Forex Money Transfer was born out of that same integration mind-set – a currency transfer app for people who embrace the latest tech advances and want to conduct transactions on their own terms, on their own time, and from whatever location they choose.”
CanadianForex has already seen overwhelming interest in mobile usage from its user base. In the 12 months ended March 2015, the number of registrations made on mobile devices grew by 261%, and according to IDC, a market research firm, purchase volume over mobile devices will exceed $1 trillion worldwide by 2017. *
The app launch is a continuation of CanadianForex’s mission to effortlessly integrate international payments into people’s lives. CanadianForex’s all-in-one app was designed to be intuitive for money transfers and easy for customers to use. It gives users complete control over the payment process, including international transfers and repeat payments, tracking current payments and reviewing past transactions. It is the first money transfer app to have global, 24-hour customer support and live rate alerts for over 48 currencies. It also serves as an information platform where users can check market exchange rates, view currency charts, set rate alerts, and read daily market commentaries.
“In launching Forex Money Transfer, we’re seizing on the massive shift to mobile for the consumption of financial services,” Kimber said. “It’s a significant, new transaction channel for our current and future customers and offers additional scale to our business. Globally, mobile accounts for around 17% of all new registrations – with the launch of the app, we expect this figure to grow substantially.“
* “Worldwide Mobile Payments 2012–2017 Forecast”, IDC, McPherson, Hand and Stofega, 2012: http://www.idc.com/getdoc.jsp?containerId=FIN237814
CanadianForex is focused on providing a smarter, online alternative to existing currency exchange services. CanadianForex is a wholly-owned subsidiary of the OzForex Group, one of the world’s largest online international money transfer providers.
The OzForex Group is a global provider of online international payment services for consumer and business clients. OzForex Group technology also powers international money transfer services of Travelex, Moneygram, ING Direct, Macquarie and other international financial institutions. Established in 1998 with the aim of providing clients with a better deal, it has offices in Sydney, Toronto, San Francisco, London, Hong Kong, and Auckland.
The OzForex Group provides services under the brands OzForex, UKForex, CanadianForex, USForex, NZForex, Tranzfers and ClearFX. OzForex Group is a publicly listed entity with shares traded on the Australian Securities Exchange (ASX code: OFX).
For more information on CanadianForex, visit www.canadianforex.ca.