Zai launches CurrencyFair in the USA, bringing its bank-beating international money transfers Stateside

DUBLIN, April 28, 2022 /PRNewswire/ -- Zai, the global financial technology company delivering embedded finance orchestration solutions, today announced the launch of its CurrencyFair personal money transfer service in all 50 states in the USA. Consumers in the USA can now use CurrencyFair to exchange and transfer money internationally with rates eight times cheaper than traditional banks, without delay and with no hidden fees.

Individuals sending money abroad can save money on their currency exchange - or save on exchange rates when buying overseas property, paying overseas tax, paying international student fees and receiving overseas pensions - CurrencyFair offers competitive rates, fast reliable transfers, and excellent customer service. The service is fully licensed and regulated, and has securely transferred over $15 billion globally. US consumers can send money to more than 150 countries with bank-level security, but without bank-level rates.

Paul Byrne, CEO of Zai said: "Since we launched the Zai brand internationally towards the end of last year, a key focus for us has been global growth and introducing our evolving product offering into new markets - all while keeping our customer-centric, problem solving approach at the heart of everything we do. The launch of our CurrencyFair personal money transfer service in the US is a natural step for us on this journey, allowing all US-based consumers - and in particular expats living in the States - to securely send money to over 150 countries and counting. 

"The USA's $2 trillion revenue market for payments presents a significant opportunity for us as Zai continues to grow and develop its product offering. We are expanding our services in the US over the coming year, supporting both consumers and businesses by simplifying payments and making innovative financial services accessible to all."  

Launched in Ireland in 2010, the CurrencyFair brand has expanded internationally offering more than 20 currencies in well-established currency corridors - including GBP, Euro, Canadian, Australian, Singapore and Hong Kong Dollars from the US - for international payments. CurrencyFair will increase its offering to 40+ currencies this year, including the Mexican Peso, Brazilian Real, Argentine Peso, Japanese Yen, Malaysian Ringgit, Pakistani Rupee and Sri Lankan Rupee.

CurrencyFair sits under the umbrella of Zai, a global provider of embedded finance orchestration. Zai supports businesses across a wide range of industries internationally - from fintechs to property technology companies - in simplifying, streamlining and scaling complex payment workflows. This latest US launch is part of a significant global expansion for the company following strategic investment by Standard Chartered Bank in 2021; Zai has over 300 employees currently, with plans to grow to 450 by 2025, and is expanding its presence across APAC, UK, USA and the Middle-East in the coming year.

About Zai

Zai is boldly transforming the future of financial services and powering customers by making innovative financial services accessible to all. Zai's payment APIs are a core capability within its suite of embedded finance products and services, helping businesses manage multiple payment workflows and move funds. Its innovative platform applies expertise in real-time payments to a reliable micro-service architecture to enable authentication, liquidity, payment and settlement. Also under Zai's umbrella is CurrencyFair, a global currency exchange platform serving consumers and businesses with competitive exchange rates.  Zai has over 300 employees, with plans to grow to 450 by 2025, and is expanding its presence across APAC, UK, USA and the Middle-East. To find out more about the 10-year history of Zai visit The Story of Zai.

About CurrencyFair

CurrencyFair was launched in Ireland in 2010 and offers an online cross-border payment and foreign exchange service to customers globally. It currently offers 20 currencies in well-established currency corridors for international payments, with plans to offer 40 currencies in the coming year. For more information, please visit CurrencyFair's website.

SOURCE Zai