For year and years foreign exchange is been controlled by banks. Perhaps one has to question if customers are getting the best rates.
Now as the internet offers greater connectivity, we are seeing new ways of exchange. It was 20 years ago that EBay came onto the Internet to transforming buying and selling.
Now we see a new way of currency exchange:
This is just a way of connecting people and exchanging money between these connecting parties. So put it simply, rather than buying currency from a bank “we swap2 changes your money directly with other people abroad.
We Swap call it Social Currency.
It is best explained like this:-
Asad Karim (.co.uk) is going to Germany on business. He needs to exchange his pounds into Euros. Yousaf Hafeez is coming from Germany to the UK. Yousaf needs to exchange his Euros into Pounds. Now with We Swap these two guys can swap their money. Simple.