How You Can Capture a Piece of the $200B Cross-Border Payments Market
We’re all hearing about the post-pandemic travel boom – in 2022, around 900 million tourists took to the skies internationally [1], with that number expected to grow by 30% in 2023 [2]. With this resurgence in travel comes a demand for an easier, cashless payment alternative that allows customers to avoid unexpected charges on their local cards when making international transactions or queuing up at their destination to convert cash.
At NymCard, we saw the demand in the market and identified that there was a massive opportunity for businesses – from exchange houses and banks to FinTechs and airlines – to provide a seamless multi-currency travel card experience to their customers. That’s how Multi-currency by NymCard came about. Based on our research and feedback from customers, we developed a plug-and-play integration that they could use to launch their product at record speed.
Exchange houses can leverage their existing relationship with customers for remittance and evolve it by providing a travel card to meet their needs. Banks can provide an additional product to their customers, gaining a competitive edge in the market. With airlines, it is an easy extension to their travel rewards program with a card they can use on their adventures around the world. The use cases are endless.
Our API and SDK-driven offering also comes with end-to-end program management and full treasury services so your customers can take advantage of competitive features, like:
- Flexible Wallet Management: Our wallet management system is user-friendly and allows for easy control and prioritization of currencies for internal use.
- Transparent Fee Structure: We offer a transparent fee structure to maintain control over finances. The FX markups, currency wallet fees, and optional issuer fees can be easily controlled and monitored.
- Automated Sweeping Mechanism: Our sweeping mechanism automatically finds available funds in the preferred currency wallet for hassle-free transactions.
- Transaction Management: Our product offers easy transaction management including exchange rate control, transaction history tracking, and integration with exchange houses/third parties to maintain accurate exchange rates.
We’ve also bundled our offering with a white-labeled app that makes your journey to market faster than ever before with little to no friction.
If you’re ready to tap into the $200 billion cross-border payments market [3] and take advantage of NymCard’s plug-and-play integration, end-to-end program management, and full treasury services; contact our team of experts to discuss how Multi-currency by NymCard can benefit your business.
[1] Skift
[2] & [3] McKinsey