“We are very excited to be adding Nigeria as the seventh remittance destination for our ‘Free Money Transfer’ business model," said P2P Cash CEO Tom Meredith.
Roswell, GA (PRWEB) June 16, 2017
P2P Cash, a Georgia-based digital financial services company, has opened a new money transfer service from the US states of Georgia and South Carolina to Nigeria. P2P Cash now offers cross-border money transfers at competitive exchange rates without any transfer fees. Nigerians and Nigerian-Americans in Georgia and South Carolina can find this new service at http://www.p2pcash.com. Customers may also download the mobile app from the Google Play or Apple Stores.
“We are very excited to be adding Nigeria as our seventh remittance destination,” said P2P Cash CEO Tom Meredith. “We continue to build our ‘Free Money Transfer’ business model as a new industry standard. This is not a promotional offer. We will never charge the transfer fees that other services do. We hope to motivate other services to take this consumer-friendly approach, eliminating unnecessary fees and letting customers send more money home.”
Peter Ojo, CEO/MD of VTNetwork LTD comments that “the P2P model is unique and that is why we are excited to partner with them for the benefit of Nigerians. We are committed to bringing remittance costs down while increasing inflow to Nigeria.”
P2P Cash’s aggressive no-fee pricing position is possible because of its proprietary Smart Token technology and global disbursement network.
“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,” said Meredith. “We don’t have to charge a large fee on bank-to-bank or mobile transfers because we don’t have to pay intermediaries, nor do we have to cover the expense of bricks-and-mortar outlets.”
“We look forward to bringing this new consumer-friendly service to the Nigerian community here in Georgia,” concludes Meredith. “Once we establish the value of the service with the Nigerian community there, we can capitalize on its popularity to take the service nationwide.”
About P2P Cash
P2P Cash is an international financial services company focused on leveraging technology to bring affordable, consumer-friendly 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.
P2P Cash transfers funds securely in real-time to billions of bank and mobile accounts globally, monetizing this no-fee service by purchasing currency at wholesale foreign exchange (FX) rates and delivering at competitive retail rates.
P2P Cash is a division of Smart Token Chain (STC), a software technology company that combines two of the most disruptive new financial services innovations: Blockchain and Tokenization. STC partners with banks and other financial service industry players globally to create and propagate standards to enable the extension of affordable banking services to the 3 billion under-served consumers worldwide.
P2P Cash seeks to accelerate the spread of our affordable financial service offerings, enabling any consumer or business to send and receive global payments securely, conveniently and cost-effectively. These plans involve additional financial services like P2P Lending and Insurance.
VTNetwork dba VCASH is a Central Bank of Nigeria (CBN) licensed mobile payment operator and fully licensed International Money Transfer Organization (IMTO).
VTNetwork surpassed all mobile payment operators and all banks in June and July 2016 on Nibss NIP in terms of value transferred on the Nigeria Interbank Settlement System. The company continues to be among the first three most active transactions processor on Nibss NIP. The company's remittance API has been demonstrated to be the most sophisticated and trusted in the market.
The business offers electronic payment services designed for cash-based economies, instant inward remittance settlement in partnership with the finest international remittance organizations, including a full e-commerce platform that has successfully operated since being introduced in May 2008.