Xfers

Xfers streamlines online bank transfers by giving sellers a one-click payment link that automatically gives buyers bank account information and tracks payments as they process. Xfers’ one-click payment link, which uses technology built on top of existing commercial banking infrastructures, is designed for merchants who don’t want to deal with APIs. Instead, they enter an item’s price and their bank account information into Xfers’ site, which automatically generates a link. A notification is sent when the payment is completed. The company’s services are free for peer-to-peer users and it monetises by charging enterprise clients a flat fee. Xfers currently has two types of target users. The first are enterprise users who rely on bank transfers for payments, including remittance and crowdfunding companies. The second are peer-to-peer sellers in Southeast Asian countries like Indonesia, where 80 percent of e-commerce transactions are still arranged through social media platforms like Facebook and Instagram or web forums, though mobile marketplaces like Carousell or Duriana are also gaining traction.