How does Originex Simplify Global remittance?
Growing Cross-Border Payments
Despite the geopolitical turmoil, the global GDP and associated trades are getting stronger day by day. Consequently, the number of international payments is surging at an exponential rate. Today, there are 0.7 annual cross-border transactions per capita on average globally (up from 0.5 in 2014) and total cross-border payments value averaging 1.8 times global nominal GDP.
The forex margins of large value capital and credit transfers have been reduced significantly. But the uncertainty and accumulation of cyber risks and mistrust have increased cross-border payments’ operating costs and complexity. As a result, the cross-border payment market may look relatively minor now. Still, it will be substantially more prominent in a few years than today. So, there is a need for a smart way of carrying out cross-borders.
Blockchain — The Solution
Harnessing the power of Blockchain technology is the only way that could fundamentally change the competitive dynamics of cross-border payments. The use of concepts of Distributed Ledger Technology (DLT) and Liquidity providers in remittance services shifts the regulatory and sanctions frameworks, accelerating bot retail and corporate commerce worldwide.
Originex Remittance
Originex offers the safest and fastest possible way to transfer funds worldwide. Originex has built an online fund transfer and remittance ecosystem fueled by the fully hosted technology to help people quickly connect with individual and institutional liquidators in the industry. Originex remittance enhances your business cash flow through super fast transactions. A traditional bank transfer may take up to a few business days to reach the destination, whereas Originex Remittance service does than in a relatively very smaller duration. Be it individual or business needs, Originex has got you covered!
There is no complex infrastructure to carry out the remittance operation. You can use your Originex wallets to utilize your funds either by sending and receiving remittances. Originex’s remittance service has a competitive cost structure and the lowest fee that you could find in the market. In addition to that, Transparency and security have always been the key features of Originex remittance. Originex’s remittance services are backed by its escrow services, creating a win-win situation for both parties involved in fund transfer.
How does Originex Remittance work?
Step 1 — A Liquidator posts a remittance advertisement
Step 2 — The user who needs to transact funds performs a search to find a Liquidity Provider on Originex and can select one.
Step 3 — The user sends USDC, USDT, ETH, or BTC from any country via Originex Wallet to Liquidity Provider.
Step 4 — Originex holds the crypto payment in escrow sent by the user.
Step 5 — The user will provide payment terms for the receiver at the other end.
Step 6 — Originex creates a chat window for all three parties for a seamless process
Step 7 — The liquidator arranges the payment to the receiver via any desired payment method.
Step 8 — Receiver provides confirmation to Originex that Liquidator has paid the respective amount.
Step 9 — Originex releases the escrowed amount of cryptocurrencies to the Liquidator. If the receiver hasn’t received or If the Receiver doesn’t confirm originex that the payment hasn’t been received both parties can file a dispute. Originex will resolve the dispute.
Excellent Customer Service
Unmindful of the size of your transaction, Originex values your hard-earned money, even it be a penny. Originex’s expert support team will quickly identify where the problem resides and brings a swift resolution. Security is a crucial feature of Originex; we have taken security measurements to provide the best remittance service at your fingertips.
