Global money transfer service
OFX launches new online seller service
They say that they can pay into bank accounts in the USA, Canada, UK, Eurozone, Hong Kong, and Australia. The new product will offer a fast, competitively priced transfer options to merchants that sell on global ecommerce marketplaces in North America, Asia and Europe. They note that 45% of the trillion dollar global online retail market is attributed to online marketplaces like Amazon and eBay.
OFX CEO Jeff Parker says: “Exchange rates and associated fees can mean the difference between growth and stagnation for emerging merchants. For companies looking to expand into new markets, the standard 3-5 percent that some marketplaces and banks charge to get that money into a vendor’s bank account can make a huge difference over the course of a year. With OFX for Online Sellers, we’re providing the means for merchants to reach new customers across country borders.”