P2P Cash, a Georgia-based digital financial services company, has opened a new money transfer service between Georgia and South Carolina in the USA and Mexico, enabling cross-border money transfers without any transfer fees. Customers may also download the mobile app from Google Play or the App Store.
The international financial services company focused on leveraging technology to bring affordable, consumer-friendly banking services to under-banked communities worldwide. The key mission is to apply technology to eliminate the need for the transfer fees charged by traditional MTOs.
CEO of P2P Cash, Tom Meredith said: “Free Money Transfer’ is not a promotional price. We are permanently setting our service price as free, which means we will never charge the transfer fee that most other services do. We want to change the whole pricing structure of the money transfer business to the benefit of the customer by eliminating unnecessary fees. We built a highly efficient system that leverages the widespread ownership of mobile phones, cloud-based data storage, blockchain innovations and a virtual organizational structure to dramatically reduce the cost of delivering money between accounts across borders,”
The system transfers funds securely in real-time to billions of bank and mobile accounts globally, monetizing the no-fee service by purchasing currency at wholesale foreign exchange rates and delivering at competitive retail rates. It combines blockchain and tokenization to enable the extension of affordable banking services to the 3 billion under-served consumers worldwide.
Meredith continued: “We don’t have to charge a large fee because we don’t have to pay intermediaries, nor do we have to cover the expense of bricks-and-mortar outlets. We are excited to get this consumer-friendly service launched in Georgia and South Carolina. Once we establish the value of the service with the Mexican community there, we can capitalize on its popularity to take the service nationwide.”
