Moneytis is a platform that helps people find the most convenient way to move money between countries and currencies. The system serves as an aggregat
Moneytis is a platform that helps people find the most convenient way to move money between countries and currencies. The system serves as an aggregator that provides the best solutions according to customers’ personal preferences. They opt for their main priorities such as savings, speed and ease of use. People can also receive messages when the value of the currencies they are interested in increase. Behind the curtain, the start-up uses bitcoin to transact the money but users would never even guess because of the simplicity of the procedure. Using an algorithm to compare the fees Moneytis even redirects customers to competitors’ websites when they offer a better deal. Thus, the platform makes use of the blockchain but also expands beyond it.
The work on the Moneytis project started in June 2014 by Etienne Tatur and Christophe Lassuyt. The idea behind it was quite simple – combine the opportunities that the blockchain technology offers and make them simple to use for regular customers. The platform was launched in March 2015 and is based in Paris but also has headquarters in the Netherlands. In fact, the team of Monetys moved to Amsterdam to take part in the ING innovation studio. It offers great support to the company providing Monetys with training, knowledge about the financial industry and a valuable network. Moreover, the Dutch ecosystem is a lot more open to innovations and grows way faster than the French one.
Moneytis is available to use in Europe, China and Mexico and is especially helpful to expats and foreign students that need to send or receive money to and from their home country on a regular basis. The fee for the transfer services is kept up to 2% or lower and the exchange rate is always visible and possible to be tracked. The company does its best to make sure the whole transaction process is fully transparent and perfectly tailored to the personal needs of the customer. Currently, Moneytis has more than 30 000 users and claims to have saved people more than 100 000 euros in the past six months. The platform has also more than 60 ambassadors that were the first adopters of the new technology and are still passionately supporting it.
The start-up aims at expanding beyond bank-to-bank transfers and is working hard towards the improvement of the services and the payment options. With the limitless possibilities that the blockchain technology has to offer, international payments seem to be on the edge of complete change that will make worldwide transactions cheap, fast, simple and secure.