Challenging and Redefining the Remittance “Protocol” — Cashaa the Global Fintech Gateway
When one hears about the word remittance, some might have that stomach churning feeling, as they are fully aware of the headaches associated with the various inefficient and or expensive outlets that are afforded to them.
Banks are the traditional vein of remittance, but remittance has different mediums of transfer, either via mail , wires, or online transfers.
Outlets such as Western Union, MoneyGram , Paypal are other known alternatives to the traditional bank medium and affords its customers the options as mentioned above, in the form of snail mail, wires and online. The following are some of the prevalent names in the business and show the limitations accompanied by each when sending money supposedly by the most efficient and hassle free way, via the online method over the internet:
- Western Union has limits up to USD$3,000 in a 30 day period
- MoneyGram has limits up to USD$6,000 in a 30 day period
- Paypal has limits up to USD$2,000 in a 30 day period ( $10,000 KYC verified)
Let me share a recent experience with you whereby I was in the pursuit of a money transferal to a friend for a purchase only my friend could have done; being that we were in separate countries. The whole process was one of excitement, then despair, then a sense of defeat,surrender and finally, acceptance in the end. All I wanted to do was an online transfer of funds of the requisite amount my friend needed for the purchase, so as to reimburse him for the amount I owed him personally for having my purchase be made. Upon my initiation of the whole transfer process to my friend, I quickly realized that my transfer was in a situation of uncertainty with regards to a fee battle that I was trying to figure out how to tango with. Seeing that the amount I wanted to send was over the personal limit of $2k usd and over his personal limit of acceptance, my somewhat nominal fee of approx. $6 just shot up to 10x or more of the that amt, just because my amount was above the limit of my current limits of my account. This then forces you to have to contact the institution to try and figure out a resolve towards having your own money sent without further delay and not to mention the harsh blow of the high fees to be incurred because you are going above the amount they stipulate as a ‘decent’ figure to be sending to a friend. The synopsis above seems to be not so bad, but aside from the fees to be had for the transaction to happen, a lot of back and forth had to be figured out with regards to the options of how to get the entire amount successfully sent. This in itself is time that could have been better spent and further worry of the unknowing of whether or not the whole process would go through.
After such an unforgiving experience remitting online and for which I needed a quick mode of transfer across boarders, it was not a nice experience for which was supposed to be a straight forward process. I found it necessary to highlight why I am bullish on a particular fintech blockchain platform called Cashaa.
Cashaa is a fintech company with its vision of banking the unbanked (and already banked as well), as the next generation banking platform. It’s primary vision was to have a straight forward, low cost execution of transferring funds from one person or entity to the next. It has come a long way thus far since it’s inception on to the market, with it’s updated offerings such that individuals will be able to transfer money globally to 120 countries with added product offerings to enable it’s users with more functionality towards more convenience.

Cashaa serves to challenge the remittance “protocol” by having extraordinary convenient offerings that are hard to ignore and even harder not to want to use in one’s everyday transacting of financial affairs. The platform will serve to be very straightforward in its approach, such that the procedure to remit and receive will be clean cut and transparent both in its mode of transaction and it’s definite fee structure. They will cover all the major points of interest with which a user will want in a remittance application and with whom one will want in a financial institution and more. Below is a short list of the ideals which Cashaa will offer in its redefinition of the Remittance “Protocol” :
Send Money Abroad at low fees
Send money internationally from your Cashaa app for up to 8x cheaper than with high street banks. The Cashaa fees will be quite reduced in relation to the known forms of remittance companies that exist today. Cashaa proposes for overseas transfers that would pose a very low cost fee structure of : $1 flat fee + the market exchange rate of the currencies involved to be exchanged in. Regardless of an adjustment to the fee structure proposed by Cashaa upon the platform’s launch; I am sure Cashaa will still be much lower in their fee costings to the customer than the current available options on the market.

Use Your Card Anywhere
Cashaa cards will work all around the world for in-store purchases, online shopping, and ATM withdrawals. The Cashaa card will be your go-to card for all day to day purchases and usage. Reason being, is that Cashaa gives the user many options via the traditional form of Fiat transacting and now also the very much needed Crypto to Fiat gateway so as to allow the user to convert seamlessly from their crypto holdings to the traditional form of barter via Fiat.
Spend Your Cryptocurrencies
Cashaa cards linked to your account will allow users to spend EUR, GBP, BTC, ETH or any virtual currency that will be added along the way; anywhere & anytime. This ability to spend your financial holdings with ease, is the key to mass adoption of this revolutionary and evolutionary form of money and transacting in the blockchain world. Cashaa will facilitate the transition from the Fiat way of transacting to the online Crypto form of business for which many more options will be had and many more innovations can come to past, such as possible use cases, a possible example of one being; the integration of IoT (Internet of Things) processing which can make more efficient use of technology on a normal day to day basis via machine applications.

Pay People In Seconds
Send bank transfers that arrive instantly, and pay Cashaa users directly by scanning the QR code. This encompasses the use of the Cashaa ecosystem and it’s application, whereby the CAS tokens will facilitate the transacting on the platform and the requisite nominal fees associated to do such transactions.
Scheduled Payments
Set up Direct Debits and standing orders. Manage recurring payments from the Cashaa app. In-app payments abroad icon will also be available to further facilitate payment options. This gives a wider range of utility outside of just doing remittance and transfers.
Cashaa is offering and is developing even more areas of functionality by its most capable and competent team under the leadership of it’s co-founder and CEO, Kumar Guarav. Cashaa’s developments are coming together in a very timely and dynamic fashion whereby the product offerings are expanding as the initial vision is coming to past from the proposed whitepaper. The expanded offerings that are being developed and in some cases improved on varies from the following healthy list of : Crypto-backed Lending, Peer to Peer Insurance, Individual accounting, Business Accounts and Business accounting, Micro-financing, OTC Crypto exchange, and much more as the company matures into a full fledged all in one convenient next generation banking crypto based facility.
For Further reading, Cashaa’s concise overview of its vision can be seen at it’s Cashaa’s whitepaper synopsis along with it’s roadmap.
Website: cashaa.com
Telegram: https://t.me/CashaaLtd
Cashaa News: https://t.me/cashaanews
Twitter: https://twitter.com/CashaaLtd
Medium: https://medium.com/cashaa
Disclaimer: These are my personal views. This article does not constitute an invitation to purchase or sell securities in any jurisdiction or a solicitation or investment advice in #Cashaa, $CAS token or any cryptocurrency, and is published for information purposes only. The reader undertakes to carry out appropriate research and in any case to consult a professional before taking any decision regarding #Cashaa. To find out more, visit the website https://cashaa.com/
