Pexbank is an innovative payment exchange service that will change the way you deal with remittances. We facilitate currency swaps, mutually beneficial funding opportunities, and multi-exchange options for remittances, fx payments, commerce, and freelance.

Through our platform that integrates many existing payment services globally, we offer a social approach to send and receive remittances in creative ways to break global payments barriers with ease, and convenience at the lowest cost. 

There are numerous problems challenging remittance in Africa that we look to support. Our research into peculiar settlement issues is driving our approach to remittances within specific geographic regions. These problems include

• Scarcity of fx sources.
• Low credit and spending limits.
• High cost of wire transfers (over 12% to Africa)
• High exchange fees.
• Settlement barriers for international employees working from home.
• Unemployment and limitations to participation in the global gigs economy.
• Micro-remittance support for global freelancers and freelance revenues.
• Other payment barriers facing digital commerce and entrepreneurship, and more.

We have proposed innovative ideas and practical solution for  stakeholders who signup for our service to create a comprehensive and self-serving solution. We exploit the advantages that economic changes, interdependence on FX, common needs, origin, geography or location, migration, and other factors bring to maximize opportunities and exchange possibilities.

• Mutual Benefits
  Sending money home or abroad requires an exchange of currency and currencies to travel to different  countries or locations. We connect persons with common needs,  origin or geographic location to meet their payment needs mutually while maximizing payment privileges within their respective geographic locality to beat time, fees, and cost of the transaction.

• Lower Fees, Less Time
  One of the challenges of traditional remittance is the associated poor conversion rate, high transfer fees resulting from both sending and receiving costs, and hidden charges, totaling the transfer costs up to 12.9% for Africa. Usually, the fastest fx transactions come with the highest fees but we facilitate payments that offer zero to little transfer fees through local payment services connected to the target parties who share common origin, geography or payment destination in record time.

• Convenience
  The growth of localized fintech and payment services offering several privileges including free transfers, ease of setup and maximum credit limits are already in use by many individuals. Rather than taking cash to the bank, transfer services, or switching different payment apps to send money, simply find and connect with those who need payments on your favorite payment service and initiate your transfer for ultimate convenience.

• Extended Spending/Credit Limits
  Persons facing limitations due to spending or credit limit can hope to break these limitations through people who are willing to help them pay or send money for shopping, shipping and other needs.

• Flexibility
  In addition to convenience, the idea of using any payment or fintech services that you are most familiar with, and use regularly to expand your payment options is a brilliant idea. For instance, the Green dot payment app is a service for US residents. One of  2 migrant parties who are connected by same origin but resident in the USA can exchange payments with the Greendot service. The families connected to them back home can exchange payments locally in several available methods of choice, one party being receiver and the other, sender. All available and future fintech or payment services presents several possibilities to connect people for payment.

• Conversion Rate Negotiations
  Better than subscribing to imposed exchange rates for every transfer, we provide the privilege of choosing from numerous conversion rates offered by peers, or negotiating their proposals to push the boundaries of volume and price.

• Cash Management.
  To countries where you send money, payment conversion must ensue in some way to convert money to the legal tender that is accepted for day-to-day spending. Besides the high charges that often leave the recipient with far less than the original amount, other losses come from sending Fx to unreliable family and friends, who selfishly cannot complete required payment tasks to oversee the progression of your capital projects back home. Receiving cash directly to your wallet after currency swaps, and paying out directly to your family, contractors, merchants, or employees working remotely for you is accomplished here.

• Micro-Transactions and FX Availability
  There are already too many players in the field, and many are sourcing Fx payments directly or indirectly. We are programmed to help you find new sources for Fx payment through people who are engaged with our services, and to bring aboard new players. Small or susbtancial deals from like tourists and travelers with unspent funds, visiting international students, etc can be available to you.

• eCommerce Payments
  For global commerce, a practical solution of interest is the PayFac (Payment Facilitation) service. This presents new  opportunities for locals to help you pay and ship items, get services and acquire research products from locals when you have the inability to pay in their native standards.

• Freelance Finance
  We understand the difficulty that global freelancers working from home have with securing their freelance revenues due to geo-specific payout services. This service will makes it possible to help others connect to save the day.

• Payment Security
  The native escrow potential of our project enables us to enact the transparency that makes your fx transactions and currency swaps very successful. This means that your consent will be required at every point to accept or release payments when a transaction is completed to avert potential losses of dealing with different users connected to you by common service on our platform. Subscribing to our service will require you to complete identity verification.
  

Beside escrow payment and exchange facilitation, we provide services that promote business in context, eCommerce, freelance, immigration, travel and tourism, and remittance support. These services includes but not limited to global shipping and export, marketing and advertising, utilities, payment sourcing, procurement, local transfers, payment handling, payment receipt and disbursement for charities, global employers and businesses, and other conceivable services.

We are interested in exploring creative and  service-focused partnerships from both local and global businesses, individuals and governments to maximize our inherent potential to provide the best support and business services.

These include but not limited to international shipping, logistics and export services (USA, UK, China, and more), global payment service providers, immigration, travel and tours, money transfer, fintech services, procurement, payment facilitation, and other services in context.