International Transfer Provider OFX Launches Payments API, Enabling Effective Foreign Currency Management At Scale

SAN FRANCISCO & SYDNEY--()--Foreign currency exchange company OFX (ASX:OFX) today announced the launch of a developer portal, designed to provide the global developer community with easy access to the company’s new Payments API.

OFX aim to remove obstacles for international businesses that want total confidence when building cross border payable and receivable processes. Partners such as marketplaces, service platforms and SMB’s can now automate all international payments directly through their own platform and participate more freely in the interconnected global economy, with access to OFX’s competitive exchange rates and domestic settlement network. For developers, the portal offers personalised dashboards to create and manage applications with plug and play RESTful APIs, clear documentation, high industry standard service level agreements (SLAs) and an analytics dashboard.

David Nicholls, Director of Enterprise Development at OFX commented: “Our new platform gives our integrated partners the ability to scale globally and accelerate the software build processes. Most importantly they save on foreign exchange rates and largely bypass expensive wires by accessing one of the worlds largest local settlement networks. We launched a beta version in November last year, and our early adopters are reporting easy integrations. Now the platform is open for any developers to register and try our Payments API Product in the sandbox environment. We have an extensive roadmap to add features to the platform so partners and developers can take advantage of the increasing suite of OFX services via API. We’re committed to helping our customers manage the pace and complexity of cross border business.”

Developers at supply chain finance solutions company Octet have seen immediate process efficiencies: “Our team were confident that the OFX Payments API was simple and easy to work with and superior to the alternatives on the market. Once the decision was made, we were fully integrated within a couple of working days,” said Octet chief operating officer Michael Rom. “We saw our processing costs drop significantly over six months.”

“As the world moves to a place where automation, scale and efficiency are a basic need, the OFX team are striving to build products which foster partnerships with businesses and developers, to help shape long-term digital payment innovation,” said Skander Malcolm, CEO at OFX.

A global company with its North American headquarters in San Francisco, OFX continues to focus on advancement in the tech, product and payments space. Founded in Sydney in 1998, OFX remains an innovator as the first Australian Fintech to launch an International Payments API on a self-serve developer platform.

Interested parties can register here to access the OFX developer portal.

About OFX

OFX gives consumers and businesses a smarter, online and mobile alternative to existing currency exchange services. Since its launch in 1998, OFX has transferred more than $100B in 55 currencies across the globe. Drawing from two decades of experience, OFX Group is a leading global money transfer business, with over 300 employees and offices in San Francisco, Sydney, Toronto, London, Hong Kong and Auckland.

The OFX Group Limited is a publicly listed entity on the Australian Securities Exchange ("ASX") under the code "OFX." The OFX Group consolidated services under the global brand OFX from prior brands OzForex, UKForex, USForex, CanadianForex, NZForex, Tranzfers and ClearFX. OFX also powers the international money transfer services of Travelex, MoneyGram, ING Direct, Macquarie International Money Transfers and other international financial institutions. USForex Inc. dba OFX. OFX is the registered trade name for USForex Inc. a licensed money transmitter. NMLS #1021624. For more information on OFX, visit OFX.com.

Contacts

For more information:
Justin Lavelle Communications, LLC
Justin Lavelle, 703-912-7671
justin@justinlavelle.com
or
OFX
Melita DeHazes, 415-364-6614
melita.dehazes@ofx.com

Contacts

For more information:
Justin Lavelle Communications, LLC
Justin Lavelle, 703-912-7671
justin@justinlavelle.com
or
OFX
Melita DeHazes, 415-364-6614
melita.dehazes@ofx.com