OneHypernet has soft-launched a payments portal for businesses and individuals to send money overseas. Users can sign up within 3 minutes via Myinfo or Myinfo business and start making payments overseas.
Foreign exchange rates fluctuate according to the demand and supply conditions of each currency corridor. For example, if a FX provider has excess liquidity in a certain currency pair, they may reduce prices to clear the excess liquidity. As such, no single FX provider is able to guarantee the best FX rates all the time.
By partnering with a network of licensed financial institutions and remittance agents, OneHypernet is able to route cross-border transactions to the licensed partner with the most competitive price for that currency pair, at that point in time. This allows partners to clear excess liquidity, while allowing users to benefit from the most competitive wholesale FX rates at the same time.
Through our partnerships, OneHyperner was able to offer the best wholesale FX rales for MYR in Singapore on 20-Sep-21, at 3.1160 as compared to 3.0981 and 3.0837 for the two closest online platforms.
OneHypernet's payments portal has processed $500,000 within the first 30 days of soft launch and will be adding more features soon.