Fxkart.Com, the online aggregator of foreign exchange dealers, has announced its launch in Punjab, promising to give money changers much better volumes in transactions which are "smooth and transparent".
The startup also announced entering into a strategic partnership with a leading B2B travel portal to enable their nearly 20,000 travel agent network make hassle-free forex booking for their customers.
"If you see Punjab market and why we are interested in it, there is a lot of volume, it beats a city like Delhi, Bengaluru and Mumbai in categories including where students go abroad for study purpose, people travelling for leisure and even emigrating.
"The kind of remittances happening from Punjab to countries like Canada, the US, New Zealand and Australia is huge," Fxkart.Com CEO Abdul Hadi Shaikh, said here.
Shaikh said in the current scenario, customers while doing their foreign remittances abroad for remitting education tuition fees, maintenance of relatives abroad etc have to call up multiple dealers for their requirement.
"Currently customers find it a hassling process to actually know what the correct forex rate in the market is. Fxkart.Com provides all this information to the consumer on a simple web platform for free. We help consumers get the best forex deal instantly and also help in instantly locating the cheapest and nearest dealer in the city, bringing accessibility to the traveler/tourist to book forex with a click," he said.
"The biggest advantage of this app/web portal is that the customers can compare rates at transit locations too and if the rate is better they can easily book and order it to have it delivered at the place of their choice," he said.
Shaikh said the company also provides forex advisory for the convenience of the consumer through a chat option.
"We make the transaction process very smooth, transparent, there is no ambiguity and no last minute change of rates and we follow every rule as per RBI guidelines," he said about the nearly 18-month old company.
He said Fxkart.Com wants to get the Punjab based money changers to come on their platform as well.
