Five tech services that are changing the finance world
Many people today, especially those who live in metropolitan areas, are well-acquainted with digital banking and e-wallet services. These websites and apps allow those on the go to easily transfer both small and large sums with ease, as well as efficiently and effortlessly pay for various items from the convenience and accessibility of their mobile phone. Some have even foregone their physical wallets completely due to the ease of digital and mobile finance software. Check out the five tech services below that are changing the finance world and consider using them to ensure simplicity during your daily transactions.
Revolut
A common financial technology company is Revolut. Based in London, the e-wallet enterprise has been named the UK’s largest financial app. Its uncomplicated interface allows users to exchange, send and receive money in over 28 different currencies efficiently on the go. The app helpfully invites customers to track their savings with spending analytics, as well as withdraw from over 55,000 ATMs in the UK nationwide.
Paypal
Though it was founded over 20 years ago, Paypal is still a leading digital financial service worldwide. The successful company is a wholly-owned subsidiary of eBay and has acquired a large number of smaller competitors over the years such as Venmo. Paypal currently has 305 million active accounts, allowing users to easily send, receive and hold funds in over 25 currencies.
Monzo
Similar to Revolut, Monzo is a large UK-based financial technology company. Though originally popular with students for its brightly-coloured debit card designs and ease of digital transfer, its marketplace has expanded to cater to almost 5 million users at present. Monzo’s app provides full financial visibility with one’s other bank accounts and credit cards all in one place.
Transferwise
Transferwise is a money transfer service that excels in exchanging between different currencies. The company supports more than 750 currency routes globally and also provides multi-currency accounts. It is a cheap, streamlined way to send money abroad for business or personal transactions. The reliable institution moves over £4.5 billion each month, saving its users over £2 million in hidden fees every day.
The editorial unit
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