Why is Sending Money Home so Hard?
Why does it take so long to transfer money from North America to South America via Western Union or banks?
You can fly there in hours. You can drive there in days. You can even sail there in days. You can walk there…, but, we don’t recommend it.
Say you want to send money to Brazil from Los Angeles. The daily maximum is $5000 for which you’ll be charged $400. Sure, they’re in business, but 8% is steep, no?
(For clarity, every time I increased the send amount, the fee rate changed. When I started with a small amount the fee was 9%, when I upped it to the maximum, it dropped to 1%. One asterisk explains that the fee will be calculated when your payment source is identified. Shady much?)
The website says it will arrive in minutes, with another asterisk, which explains that it will really probably be days. Come on, what year is this?
Somebody should do something.
Like, launch a blockchain-enabled payment processor with a focus on transfers between communities that matter to each other?
Did you know, in 2017 cross-border remittances (people sending money home) to the Latin American & Caribbean region topped US $75 Billion?
And in 2018 they “experienced double-digit growth.” — PaymentSource
So the opportunity in the near future is only growing. I know, sign me up, right?
Well, you can invest in this solution, right now!
Our team of engineers, programmers, and entrepreneurs in Latin America is readying to roll out OuroPay. Cross-border remittances will take place in 12 seconds. Faster than you can buy a flight to, anywhere. And 2–3% fees. (Which might be waived if both parties are members, we’ll see.)
Earlier this year, we launched a trading platform, which you can join. And in 2020 we’ll begin roll-out of FUENTE, a marketplace for buyers and sellers in Latin America and the Caribbean. Think, Alibaba for… the Amazon, and beyond.
We are currently accepting investments on our crowdfunding portal StartEngine. To learn more about our team, the potential, and the investment details visit the portal page.
See why the campaign is one of the most active on the platform. Learn how your investment can improve the way millions of people interact financially.
And share it with intelligent, savvy people you know who are interested in making a positive, practical impact with their investments. We’d appreciate it, and so will they.
