It seems that the world’s leading technology providers are locked into an intense race-to-finish to see which can become the most popular money transfer service. What began as an enterprise largely dominated by PayPal, online money transfer software is now a volatile and competitive field, made even more cutthroat following Facebook’s full implementation of in-app, in-chat money transfer bots.
The new Facebook Messenger bot launched by TransferWise allows individuals to quickly transfer money to friends and family in the UK, US, Canada, Australia and Europe without leaving the messenger app. As could probably be expected, this technology is proving to be immensely popular among social media users who are seeking a more vertically integrated approach to their online experience.
Although the TransferWise bot is currently only available in a select number of countries, representatives from the company have explained that this initial roll-out is only one step in a larger plan which will see the technology implemented in over 50 countries worldwide. At this stage, it seems not outside the realm of possibility that the TransferWise bot will give more established competitors a serious “run for their money”.
In terms of operational details, the TransferWise bot operates by asking users a series of short questions which determine how much money is being sent, who it is being sent to, and where the money will come from. At this point, the bot takes over and completes the transaction for the client. With largely industry-standard exchange rates and fees, the TransferWise bot delivers exceptional performance and results without forcing customers to pay an annoying premium for them.
For those who are interested in learning more about this powerful money transfer software or other products like it, a simple internet search will likely yield a handful of viable options. More than anything, customers should be diligent in order to ensure that whatever service they choose does not charge them excessively for transactions. Performance and affordability should always go hand-in-hand.