Cross Border Payment abbreviated to XBP
1. Momo (Mobile Money) Funding: Instant Remittance
Mobile Money (Momo) networks are essential infrastructure for instant, local transfers. When connected globally, they become powerful XBP channels that bypass slow correspondent banking systems.
Core XBP Use Case: Near-Instant Remittances
Mechanism: Senders fund their TransferXO wallet via local bank or Momo. TransferXO handles instant currency conversion and pushes the funds directly to the recipient’s local bank or Momo account.
TransferXO Advantage: Enables users to send and receive local & international payments instantly. This speed is crucial for time-sensitive personal and business remittances, drastically reducing transfer times from days to seconds
2. Gift Cards: Liquidity for International Funds
Digital gift cards act as portable, instantly transferable digital value, serving as an effective means of value exchange, especially where banking access is limited or costs are high.
Core XBP Use Case: Converting Digital Assets to Local Cash
TransferXO creates a highly liquid marketplace for this asset conversion:
The Problem Solved: A recipient abroad receives an international gift card (e.g., from an international client or family member). Without local access to that merchant, the card's value is locked.
TransferXO Solution: The user accesses the "Sell Gift Cards" feature on TransferXO, inputs the card details, and instantly converts the gift card's value into their TransferXO balance. This balance is immediately liquid and can be withdrawn as local currency to a bank, Momo account, or held as cryptocurrency. This process facilitates immediate cross-border liquidity.
Core XBP Use Case: Sending Instant Cash to Family & Friends
TransferXO enables customers to use the digital asset of a gift card for instant remittance to loved ones:
The Sender's Action (TransferXO Customer): A customer logs into the TransferXO App, uses their wallet balance (fiat or crypto) to navigate to the "Buy Gift Cards" feature, and purchases an international digital gift card (e.g., Amazon, Apple, Google Play). They then transmit the digital code to their recipient abroad instantly via message or email.
The Recipient's Liquidity: The recipient receives this code which represents valuable currency, and immediately uses the TransferXO platform's "Sell Gift Cards" feature to convert the code's value into their TransferXO balance.
Family Remittance Benefit: This process allows a TransferXO customer to send money or value to their loved ones quickly, bypassing slow bank transfers. The recipient instantly liquidates the asset via the platform, turning the gift card into local currency for withdrawal to a bank or Momo account, providing immediate cross-border financial support.
3. Virtual Cards: Secure, Instant and Flexible Global Payments
Virtual Cards are digital-only card numbers that provide the highest level of security and control for online transactions, making them the ultimate tool for secure, cross-border digital spending.
Core XBP Use Case: Secure Global Digital Payments
The TransferXO Virtual Card allows users to execute secure, targeted international payments:
1. Global E-Commerce
Use Case: Paying for goods and services on international websites.
Cross-Border Advantage: Instant use, separating transaction risk from the user's main bank account, providing an immediate and secure source of international funding.
2. FX Transparency and Budget Control (Subscriptions & Ads)
Use Case: Funding global advertising campaigns (Meta, Google, X) and paying for international SaaS subscriptions (e.g., Slack, Adobe, Shopify).
Cross-Border Advantage: Real-Time FX Transparency & Budgeting: The cards allow funds to be loaded in one currency and spent internationally with transparent, real-time FX rates, eliminating the hidden foreign transaction fees and unpredictable exchange rates often charged by traditional banks, ensuring campaigns and budgets are accurately managed.
3. Digital Wallet Integration
Use Case: Tap-to-pay in stores and secure online payments using Apple Pay or Google Pay.
Cross-Border Advantage: Security via Tokenization: The card details are never shared with the merchant. This enhances security for both in-store contactless payments and online international spending, making the V-Card a universally accepted, highly protected method of payment.
Harnessing the Virtual Card from the US and UK
For users in the US and UK, the TransferXO Virtual Card offers a seamless digital bridge:
Crypto-to-Spend: Users can fund their Virtual Card directly from crypto earnings or fiat, bypassing lengthy crypto-to-bank transfer processes and instantly converting digital wealth into universally accepted spendable currency.
Seamless Mobile Wallet Use: By linking the TransferXO Virtual Card to Apple Pay or Google Pay, US/UK users gain the ultimate convenience of contactless and authenticated payments for any cross-border expense, whether traveling abroad or simply paying an international vendor online.