đ Product
CashAbroad is a web platform where businesses in Latam can send and receive cross-border payments from international merchants and vendors with low-cost, instant transactions and a group of smart features that make your paying journey a pleasure.
đ¤ Problem
Paying vendors is disorganized and inefficient because approvals, invoices, and payments are often on different channels, like WhatsApp, emails, and paper bills. Moreover, Mexican companies lose up to +9-12% in revenue in cross-border payments and spend up to 30 hours or more a month on payment transactions, a time that would be best spent on strategy. These businesses also struggle with liquidity due to long settlement times, which push them to use credits or loans (more costs!) to keep their businesses running. On top of that, they spend effort and time redoing their invoices due to constant exchange rate fluctuations. We are creating features to help them do their job smoothly and pain-free.
- Pay/receive directly with your local currency to merchants abroad in dollars or their local currency.
- Automatic Payments | Schedule a one-time/recurrent date to pay one or multiple recipients; great for utility bills or salaries.
- Mass Payments | Pay simultaneously to multiple users. Great for paying salaries!
- Invoices | Sent invoices with smart adjustments to request payments (USD/local currency).
- Accounting Imports | Download your transaction history to use it on your favorite accounting software.
- Approvals | Invite collaborators and request approvals, for example, from accounting or you!
With Cashabroad, businesses of small and medium sizes like developing, design, marketing agencies, people that give courses online, consultants, real estate, and others will be able to open their frontiers.
âď¸ How it Works
In partnership with Wyre, we create a custodial wallet for each user and through Stellar Blockchain have compliant FIAT to crypto On/Off ramps. Plus KYB and AML compliance. We use Spreedly to be PCI compliant.
