BookMyForex is an Indian Fintech company that allows customers to buy foreign currency online at a rate lower than that of the foreign exchange companies, banks, hotels, and airports. Customers can choose among options such as a foreign exchange card, hard currency, traveler\u2019s cheques, or international remittances.<\/p>\n
The company compares foreign exchange rates across foreign exchange companies and banks in real time, and it uses an algorithm to determine the best vendor to service a customer\u2019s request. Once a vendor is selected, BookMyForex contacts the customer and fulfills the request within six hours. BookMyForex makes a profit through adding its own margin on top of the exchange rate.<\/p>\n
I can see the appeal in simplifying the process of currency exchange. If I\u2019m traveling, I would want the best rates. The current retail currency market has room for expansion; according to a Bloomberg report in 2016, the global currency market has an average daily volume of over $5 trillion. In order to be competitive in the online foreign exchange marketplace, BookMyForex and other similar companies must ensure the lowest rates, system stability, foreign expansion. With the rising use of e-wallets, BookMyForex should consider providing such an option, too.<\/p>\n
Reference: \u00a0http:\/\/www.bloombergquint.com\/business\/2017\/02\/11\/fintech-tracker-can-bookmyforex-make-money-by-selling-money<\/p>\n","protected":false},"excerpt":{"rendered":"
BookMyForex is an Indian Fintech company that allows customers to buy foreign currency online at a rate lower than that of the foreign exchange companies, banks, hotels, and airports. Customers can choose among options such as a foreign exchange card, hard currency, traveler\u2019s cheques, or international remittances. The company compares foreign exchange rates across foreign … Continue reading Fintech Company Makes Money By Selling Money<\/span><\/a><\/p>\n","protected":false},"author":1032,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-821","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"yzhu","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/yzhu\/"},"qubely_comment":0,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"BookMyForex is an Indian Fintech company that allows customers to buy foreign currency online at a rate lower than that of the foreign exchange companies, banks, hotels, and airports. Customers can choose among options such as a foreign exchange card, hard currency, traveler\u2019s cheques, or international remittances. The company compares foreign exchange rates across foreign…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1032"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=821"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/821\/revisions"}],"predecessor-version":[{"id":822,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/821\/revisions\/822"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}