FairFX Extends its Payment Services into South Africa

FairFX, a UK-based, multi-currency Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term service, announced today that it has expanded its international payments service into the domestic South African market via a tripartite agreement with Morgan West Ltd and Mercantile Bank.

FairFX has identified South Africa as an exciting growth market for its services.

The new world of online trading, fintech and marketing - register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.

FairFX offers services to retail and business customers. Its Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-based peer-to-peer payments platform enables personal and business customers to make currency payments in a range of currencies and countries and across a range of FX products through one integrated system.

Although services providing foreign exchange into the South African rand (ZAR) to send into South Africa are widely available, converting ZAR into other currencies for movement out of South Africa is more challenging and demands a local footprint, which FairFX is now offering.

Commenting on the launch of its service, FairFX CEO, Ian Strafford-Taylor, said: "With a large number of international businesses and people transiting to and from South Africa, FairFX has identified the country as an exciting growth market for its services. We envisage this strategic move to be a potential gateway into other parts of Africa as demand grows from businesses and travellers looking for more efficient money transfer solutions, and of course better value."

Under the new service, customers will have access to FairFX's telephone dealing desk, with a personal account management service to support them when transferring funds to and from South Africa.

FairFX is also seeking to expand its presence in South Africa further through delivering a full-service offering, including currency cards.