Meet the Company: OFX
Taking your business global has never been easier than it is today. But high exchange rates and hidden fees on international payments could shrink your profits, especially when currency markets are unpredictable.
Introducing OFX, a stress-free way for etailers to manage their international money transfers to help businesses save time and money.
We spoke to David Nicholls, Director of Enterprise Development and Ecommerce for OFX about how OFX can help marketplace sellers.
Who are OFX?
OFX had a humble start over 15 years ago on Sydney’s North shores. It was founded by two surfers who wanted to provide a better alternative to banks offering poor service and high rates. Today, we are a global company and one of the only international payment providers who offer 24/7 customer support and bespoke products. But what hasn’t changed is our commitment to customers and delivering the higher service levels they expect.
At OFX we’re accessible round the clock and take customer service very seriously. As well as offering competitive rates and tailored products, our specialists work with e-commerce businesses to take the worry out of managing their FX strategy, which means they have more time to focus on their business.
What do OFX do?
Very simply, our ultimate goal is to make international payments easy and seamless for businesses.
Etailers are at the heart of our product innovation and we’re constantly refining and adding new features to our online seller proposition. With our proposition for marketplace sellers, it’s like having a local account in the market you do business in. Our clients have full control over their money and can repatriate their revenues, or not, depending on fluctuations in sterling. Our virtual local accounts allow sellers to transfer money directly, without needing to convert it back first. This means clients can save significantly on transaction fees and margins when bringing revenue home from international marketplaces.
Why should you use OFX?
- We help online sellers grow their businesses. We do this in a number of ways, from superior ‘always on’ service to bespoke products.
- Fast transactions. Our fast transfers expedite critical aspects of sellers’ supply chains, driving efficiency. In fact, more than 80% of all transactions are completed next day.
- We can open up new markets. If you’re a seller on several marketplaces in multiple countries and currencies, we make it easier for you to manage your funds all in one place. Once a seller is on at least one overseas marketplace, we make it easy to replicate that experience in other markets, opening up opportunities to access new clients worldwide.
- We understand your business. We’ve newly launched the OFX Online Seller Resource Hub with advice on topics such as the top market places to sell internationally, marketing ideas, great partners and even how to get started.
Where do I find out more?
Our global team of experts are with you every step of the way. Find out more about how OFX can help you grow globally here.