UKForex launches money transfer app to reflect 24-hour nature of currency markets

4 August 2015

UKForex, part of the OzForex Group, one of the world’s largest international money transfer providers, today announces the launch of a free mobile app, Forex Money Transfer, to enable fast, secure international payments on the go.

The focused, all-in-one app was designed to be intuitive and remove friction from the transaction process. It is the first money transfer app to have global, 24/5 customer support and live rate alerts, reflecting the round-the-clock nature of currency markets so users never miss a good deal.

Forex Money Transfer enables users to:

• Make international money transfers in 48 currencies
• Set up repeat payments, track open payments and review past transactions
• Check market exchange rates, view currency charts, set rate alerts and read daily market commentaries

Always on

The iPhone and Android apps are designed to suit the global lifestyle of UKForex’s customers, many of whom make regular international payments.

Richard Kimber, OzForex Group CEO, said: “UKForex has always been focused on providing the best international money transfer experience to its customers. We’re excited to launch a user-friendly app that responds to the needs of our internationally mobile customer base to send money on the go.

The launch is a continuation of our broader vision to effortlessly integrate international payments into people’s lives. Mobile provides an always on and always available solution, offering convenience to our customers through a very personal device.”

A new channel

OzForex has already seen huge interest in mobile from its user base. In the last financial year, the number of registrations made on mobile doubled.

This reflects the huge global uptick of mobile usage across all industries, with financial services no exception. IDC forecasts that purchase volume over mobile devices will exceed US $1 trillion worldwide by 2017.* Meanwhile, research by Visa states that mobile payments in the UK will increase by a factor of three over the next five years, hitting £1.2 billion in weekly spending.**

Kimber added: “With the Forex Money Transfer app, we are seizing upon the large shift to mobile for the consumption of financial services. It is a significant, new transactionary channel for our current and future customers and offers additional scale to the business. I would expect that over the next 5 years, half of all our transactions will be originated via a mobile device.”

Product details

The Forex Money Transfer app is free to download from both the App Store and Google Play.

 

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