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.
What Makes This Trend Stand Out
- 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.
- 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.
- 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.
Sectors Adopting This
- Finance
- The finance industry can embrace P2P currency exchange apps to offer more convenient and transparent services to travelers, creating disruptive innovation opportunities.
- Fintech
- Fintech companies can explore the trend of transparent rates in currency exchange apps to develop innovative solutions that challenge traditional currency exchange methods.
- 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.
