Peers Exchange is an international peer-to-peer currency exchange and payment platform. Our users, called PEEXers, are paired up strategically to help them avoid expensive fees from banks and other institutions like Western Union or Money Gram. With 35 billion remittance transfers every year, the 30 million African migrants worldwide lose a total of $2 billion just to support their families back home.
We primarily work in Africa, sanages to offer its services so cheaply by matching up payments with those going the opposite direction using mobile application currently and mobile money technology very soon. So “your” money never actually leaves the country — — it’s rerouted to someone who’s being sent a similar amount by someone overseas. Your foreign recipient, meanwhile, receives their funds from someone trying to send money out of their own country.
PEEX innovation is that its customers deal with their peers in a trusted social network. These verification measures work the same way Airbnb and Uber verify users, hosts, and guests.