WeSwap is an app that's available for both iPhone and Android that allows travelers to exchange different types of currencies on a P2P basis, while ensuring that a fair and completely transparent rate is given.
So far, the app claims that over 350,000 travelers have exchanged currencies through the app, which has totaled over £130 million. With this, WeSwap reports that travelers have saved "up to 90% on their travel money in the process."
To use the app, travels just sign up for free to get a WeSwap multi-currency Mastercard, which they can they load with money and use as a normal debit card. The card is compatible with over 150 currencies, and auto-converts the home balance to the currency being used at the time. In order to receive a better rate, up to 18 currencies in different wallets can be exchanged in advance.
P2P Money Swap Apps
WeSwap Allows Travelers to Exchange Money with Clear and Transparent Rates
Trend Themes
1. P2P Currency Exchange - The trend of P2P currency exchange apps like WeSwap allows travelers to exchange money with clear and transparent rates directly with other users, disrupting traditional currency exchange methods.
2. Transparent Rates - The trend of apps like WeSwap providing clear and transparent rates for currency exchange disrupts traditional services that often have hidden fees and unfair rates.
3. Multi-currency Debit Cards - The trend of multi-currency debit cards, like the WeSwap Mastercard, offer convenience and cost savings for travelers by allowing them to load and convert multiple currencies on a single card.
Industry Implications
1. Finance - The finance industry can embrace P2P currency exchange apps to offer more convenient and transparent services to travelers, creating disruptive innovation opportunities.
2. Fintech - Fintech companies can explore the trend of transparent rates in currency exchange apps to develop innovative solutions that challenge traditional currency exchange methods.
3. Travel - The travel industry can leverage multi-currency debit cards to enhance the experience for travelers by simplifying currency conversion and saving costs, driving disruptive innovation.