2019 | Winngie

People are working overseas, just for sustaining income for their family back home and waiting their savings to keep their family happy. Especially in African countries, just for creating a better life for their families, millions and millions African are working in another country.
Fees for remitting money vary wildly between providers and countries. African migrants, who sent almost $60bn (£38bn) in remittances last year, pay the most, according to the World Bank. On average migrants sending money home to Africa lose 12% to fees. Moving money between African countries can cost much more – sending money to Tanzania from neighboring Kenya or Rwanda, for example, costs an average of 22% (or a $44 cut on $200 transferred).

Many experts would say how it is incredible that in a competitive environment there’s no reason these things should be more than 4%. It is not something justifiable.

According to Ismail Ahmed, founder of World Remit, an online transfer service said that the true cost of sending or receiving remittances in Africa was much higher than figures may suggest. “There are costs associated with going to a branch. In Africa, in many cases banks are in the cities, so people have to travel there, queue up, wait and then collect small amounts of money.”

The widespread utilization of mobile phone in Africa could make it cheaper to transfer money and easier for migrants to get to emergencies at home, said Ahmed. “Particularly in Africa, new technological changes are likely to have the biggest impact. Imagine somebody gets a text message in the middle of the night, saying that mum needs to go to the hospital, and they can send $10 instantly. In the long term, these things will transform money to transfer in Africa.”

Several firms have come up lately to face the dominance of major platforms, such as Western Union, considered to control 18% of the worldwide remittance market with roughly 500,000 outlets in 200 countries.

In 2011, Western Union handled $81bn in remittances roughly $1 in every $5 sent. It made 80% of its revenue from remittances that year, including almost $3.6bn in transaction fees and $1bn in foreign exchange income. In Africa, exclusive deals with several banks saved it to a share of the market above 70% in countries, such as, Mali and Rwanda.

Western Union said its average cost to users was roughly 5%. “Our pricing varies from country to county depending on a number of factors, such as security and local regulatory compliance. On the amount of money being sent,” it said, adding costs was affected by factors, including national laws and the amount being sent. “Western Union has acknowledged the increasing consumer which need to send money from one African country to another. However, in Africa there is a new trend that Winngie is the new one that has been well received and became so common for many immigrants in Africa. Winngie goes in a high demand in Africa and gets a high level attention for many immigrant workers.

Winngie has an easy interface and sustainable client background that many immigrants use this platform as a transfer way to their loved ones back in their country. Winngie is a new trend according to data has been published in a Rwandan local university. It is the fact that Winngie has very cheap, no fee and no cost at all. Calling free as cheap might not sound good, but Winngie has a good way to change all African immigrants’ perspective.

Western Union is losing its grand to Winngie as booking.com whereas Expedia loses its own to Airbnb. In Africa, especially Saharan Africa and East Africa, the business itself is ongoing to Winngie. The platform itself became a phenomenon in Africa.

It changes the system and makes transfer small amount to overseas to love ones easier than ever. Not anymore high costly transfer fees and killing exchange rates are the issue for African immigrants. African immigrants are happy to use Winngie for their well worked hardly earned money.

Reference:
Why do Africans pay the most to send money home?
https://www.theguardian.com/global-development/2013/jan/30/africans-pay-most-send-money

Old Euro Banknotes, Are they Still Valid, Till When, How to Exchange?

We have been hearing about the old and new Euro Banknotes and there are a lot rumors and fake news around in the internet. Let’s read what’s the reality and what you should do.

The roll-out of the Second Series of Euro banknotes was completed in May 2019. The First Series of Euro banknotes from €5 to €500, issued since 2002, is being replaced by the newer set of euro banknotes from €5 to €200. Are the old Euro banknotes still valid, and how can you exchange them? Read on to find out.

In 2019 Which old Euro banknotes have been replaced by new Euro banknotes?

The following banknotes from the First Series of Euro banknotes have been replaced by newer Euro banknotes from the Second Series which are:

€5 – euro banknote
€10 – euro banknote
€20 – euro banknote
€50 – euro banknote
€100 – euro banknote
€200 – euro banknote

The roll-out of the Second Euro banknotes series has been completed in May 2019 recently.

What about 500 Euro banknotes, Old ones are still valid?

The European Central Bank has decided not to include a €500 euro banknote in the Second Series of Euro banknotes. The €500 Euro banknotes will no longer be issued and they are no longer in circulation since 2019.

Are the First Series old Euro banknotes still valid?

The old Euro banknotes from the First Series remain valid, and they can be spent without problems in the Euro-zone and in the UK. But Especially foreign countries they do not want to buy these series anymore.

When purchasing Euro banknotes, many British customers prefer to only receive Euro banknotes from the Second Series. For this reason, some bureaux de change in the UK may not accept Euro banknotes from the First Series from their customers.

€500 euro banknotes from the First Series are still valid but they are being withdrawn from circulation.

Are old Euro banknotes from the First Series still legal tender?

Yes. The old Euro banknotes from the First Series still remain legal tender. They have the exact same value as the equivalent banknotes of the Second Series of Euro banknotes. Both types of Euro banknotes circulate alongside each other in the Euro-zone.

The 500-euro banknote also remains legal tender, but it is more difficult to spend them, as most vendors in the Euro-zone don’t accept €500 notes for payments.

How and Where can I exchange old Euro banknotes?

Do you still have some old Euro banknotes from the First Series? It’s easy to exchange old Euro banknotes using our online exchange service for Euro banknotes. In addition to the First Series Euro banknotes and the discontinued €500 euro banknotes, we also exchange euro coins and eurocent coins. P2P Exchange Currency Mobile Apps like Winngie is becoming popular in the market. You can use Winngie Exchange Money Mobile Application to Change Old Euro Banknotes easily.

Is there a deadline and What is the exchange deadline for old Euro banknotes?

So far, no exchange deadline has yet been set for the exchange of old Euro banknotes from the First Series. So, no rush for that. For sure there will be official announcements from European Central Bank and also from other banks in case there will be a deadline defined.

Transferring Money Costs!

The money transfer industry is as old as the banking industry. At the past few years, it has been seen as exponential growth with a relation in rising number of immigrants in the developed countries.

Innovative and advanced technology changes the charge rule of banking industry. The average total cost of transferring money has been declining. According to the World Bank data, the global average plummeted to below 8.4% in the first quarter of 2014 from the 9% recorded a year earlier.

However, with all this growth, why isn’t the process of transferring money as smooth as it should be? Why are some remittance corridors paying negligible amount while others such as Saharan Africa pay is as high as 12% of the amount remitted?

Imagine you are going to transfer your friend $25 from the UAE. How much would he get? It is hard to tell if you have never done it before using the conventional system, all because of a myriad of hidden charges. Unless you are internet savvy, you cannot avoid a multitude of fees in addition to diluted exchange rates that accompany such a transaction. The draining of the lump sum involved is what many customers in this industry decry. The fees charged by Money Transfer Operators (MTOs) and their foreign currency exchange rates reduce the total amount sent. Even in the cases when you fall into the trap of the ‘fee-free rates’, the exchange rate is often too diluted to make up for the lost commissions.

While we may be quick to judge these MTOs as profits connoisseur, there is more to it than what meets the eye. Factors such as technology and infrastructure, and regulation and interoperability all play a role in cost structure and pricing.

For example, leading commercial banks with a global network that operates in this industry are slowly leaving citing the regulatory risks and a high cost of operation that eats on their profits.

Unlike Money Transfer Operators that can handle spoonful transactions, inter-bank systems are suitable for moving large sums of money. But governments are keen on large transfers owing to increased money laundering activities over the past two decades.

What’s more, it is a requirement for the players in this industry to know their customers, which raises serious privacy concern, apart from eating on your time as you fill out the forms to reveal your identity. Banks succeed here by making their money transfer from the customers to their account holders.

Just to remind you, Money Transfer Operators don’t have their independent networks in some regions and just partner with the local banks to reach their customers. Such partnership only means additional expenses, in which the end-consumer has to shoulder.

After putting all these factors into account, the problem rounds down to the government control. The numerous checkpoints initiated by the state agencies to mitigate fraud and money laundering, not only increasing the cost of doing business but also delaying transfers.

While any problem caused by the government is not often easy to overcome, this one is! The answer does not involve engaging in activism or media campaigns but lies on technology. Does Winngie ring a bell?

Winngie is a well-know platform that you transfer your money to anywhere in the world with based on platform that you can find someone who else to transfer same as you do. It is a great capability to find a platform that also eases up your transfer and makes the cost cheaper.

To use Winngie to transfer money, you need to create an account and your recipient needs one too. The rest is as simple as matching like tinder. You fill the amount you want to send , enter the address of the recipient, and click send.

There are lots of benefits that come with embracing Winngie as means of money transfer. However, there are three outstanding reasons namely:

Fast: Unlike the Western Union or Money Gram transfers that take days to be processed, Winngie system is almost instant. The money reflects on the system a few seconds after it is sent but may take up to an hour to be available for withdrawal.
Cheap: Winngie is a peer-to-peer network and, therefore, eliminates the roles played by third parties. You only pay negligible fees, and there are no hidden charges.
Privacy: While using this network, you do not need to worry about somebody snooping around your finances. What’s more, the transactions are protected and devoid of your personal details.

Overall, Winngie is an amazing platform that you can find a good way to transfer while you are staying at your home and not going out to find a way to handle your transfer. It gives you possibility to transfer small amount of money that normally costs more than the original amount. Here you go with the Winngie Exchange and Send Money Mobile App to start matching with people around you.

Exchange Money and Lose on the Spot

Anyone who travels as often as me or lives in several different countries as I do may know that he/she needs to exchange money all the time. Each time, you will see how much the banks are charging and cutting from your money.

All payments and transfer fees are not so unclear, and you don’t know how much it costs you. In the information era, there is some information that has been covered but not opened to us. If you transfer a huge amount of money from your country to another country, you will feel amazed how much it may cost you and you will not be even sure how much you pay for each specific reason.

You will be battered to realize that the fees are as much as 13%. That’s on a round-trip exchange currency. It means if you exchange the money then change it back, you may lose 13% of the exchange amount. Of course you’re not going do a double exchange, but it gives you a clear idea of how much the banks can make out of you. The average fees are roughly 7% of the total exchange amount for a round-trip or 3.5% for one way.

Interbank rate is the rate the banks pay when exchanging money. This is the rate the banks pay when they are trading with each other. This is the “genuine” exchange rate. The banks make a margin on top of this, and give you their exchange rate with the fees covered. Mostly they do not open out the fee, and they just disclose the rate that you have exchanged. The reason why they charge that much is because this is a hidden fee. You don’t see the fee because you just see how much foreign currency you received when exchanging.

Country	Bank name	Example currency	Round-trip fees
International	PayPal	AUD/USD	3-9%
U.S.A.	Wells Fargo	USD/EUR	2%
U.S.A.	Citibank	AUD/USD	2.1%
Australia	NAB	AUD/EUR	10%
Australia	Westpac	AUD/EUR	11%
United Kingdom	Barclays	GBP/EUR	13%
United Kingdom	Lloyds	GBP/EUR	5%
Canada	Toronto Bank	CAD/USD	6%
Canada	RBC	CAD/EUR	8%

The table above indicates the rates you receive if you wire money into your bank account in another currency. This is probably what will happen if you sale a house in one country and purchase another house in another country. It’s not the rates you receive when exchanging cash over the counter in the bank (although rates for both situations are usually very high). I include PayPal in the table above. Although they are not a bank, they are a popular option for international transfers. You will notice that the fees in the US are a bit more reasonable than the UK, Australia and Canada. But still, even the Wells Fargo currency exchange rates of 2% round-trip (1% one-way) cost some money to pay when there is no other lower cost option.

There are several options to avoid these fees, but it depends on how much money you are exchanging and which currencies you are exchanging. If you’re transferring $5k to $100k, you can avoid the fees and pay only around 0.5% by using any one of these currency exchange companies:

TransferWise – charges 0.5% one way or 1% round trip. They seem to be able to facilitate a transfer even if you do not have a bank account in both countries (but I have not confirmed this). The other alternatives on this list will need you to have a bank account in your name in both countries. TransferWise will definitely need the sender to have bank account and will need the sender to verify their identity with a copy of a passport or similar documentation.
OFX – charges usually 0.5% one way or 1% round trip.
CurrencyFair – charges usually 0.5% one way, and they also have a marketplace where you can trade with other people directly. (Note: Five free transfers with CurrencyFair if you use the link)
xe.com – fee varies depending on the currency.
Winngie-it gives you the best rate and best option. It is the best I have used.
Curexe – offers a transparent 1% cost on currency exchanges and goes down to 4% on higher volume transactions. They have awesome customer service because you can get a direct line to the founder 24/7.

The way for these services to work is that you transfer (via wire transfer usually or ACH in the US) to their bank account and then they will wire or direct transfer to you in the exchange currency. Usually this means you need a bank account in the two different currencies. You can get a bank account with multiple currencies which will solve this issue, for example, by setting up an account with HSBC in Hong Kong, Singapore, Australia or the UK.

There is also an option for using a foreign exchange broker to directly exchange money and pay the same rates that banks pay. This is something I have personally done, but it’s a little tricky to set it up. I would not recommend it unless you have over $500k to transfer. In other words, brokers don’t want you to set up an account. Just to exchange some money! They are looking for you to trade, and transacting hundreds of times, so that they make something on brokerage fees. One company you may use is Interactivebrokers. There will be a monthly fee and a minimum to open the account if you do this.

All of these previous options are more for transferring larger amounts of money. If you’re traveling overseas and just need some cash during your trip, there are basically two options: local currency exchange (cash to cash) or simply using your credit card. The best option depends on which country you are traveling to. Some countries have a local economy that relies heavily on exchanging to US dollars and you will find in these countries that the exchange rates for cash to cash can be quite reasonable (around 1% fees one way). Some examples are: The Philippines, Hong Kong or Ukraine. If you have US dollars, then the best option for these countries is to bring US dollar cash and exchange it when you arrive. Mostly you will not want to exchange at the airport as the rates are likely to be a lot worse than in the city center.

Credit cards are another option for getting your money when traveling. This can be either paying via the card or withdrawing from an ATM.

You want to be careful as most cards will double-charge you, not only for the currency conversion, but also an extra fee for withdrawing from ATMs and then on top of this an additional charge for foreign currency withdrawals.

So you can end up being charged in three separate ways for the same transaction: 1) The ATM fee 2) A percentage charge for cash advance or for foreign currency transactions 3) Another hidden fee on the exchange rate (again banks do not declare this fee to you they just tell you that this the “rate” they are giving you, but of course that “rate” includes their undisclosed fee.

There are some credit card options without additional fees whilst traveling, but all of them as far as I am aware will still have the hidden fee that they take when converting currencies.

No More Feeding Big Chunky Bankers

International Money Transfer

Peer to Peer

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If we just get on a time machine and fly back to 80s, the time of Marty McFly from “Back to the Future”. It would be tremendously difficult to explain how the world changed and how we are connected by a button of a small computers and even mobile phones. The time has changed, internet is already old and settled technology that we cannot even consider a life without it. If we go back 80s, even we cannot be sure to explain what we are having at this stage of the time. We are now well connected and well achievable.

The things on Internet are also on move and change rapidly. Big companies are losing their stance and small business who has no brick and stock having their time. There are no clear definition of supplier or demander, now all same in the same basket. No more people are stuck with big corporations and full of employees that earning good sum of money and enjoying being monopoly. The time changed, no more shopping mall needed, it is already online. No more bookstore, no more travel agents, no more groceries we are stuck on and need to visit, it is all one click away.

Banking? Big cold banks? Waiting for the line and getting ticket to remit your money? Still in this era? Money is a media that we use for mutual agreement. It is actually easiest one to transfer or remit. No need big exchange offices and no need to line up for banks declare all your recordings including your personal details.

Nowadays Peer to peer financial platforms are creating fresh start for the industry.

It is a demand that never been supplied well until lately, now all transactions are easy and manageable via online applications. Why people need to pay for the easiest transaction? Why we need to pay corporate bankers well paid salary? Peer to peer transfer options get the exchange offices, banks, lines, long waiting time out of our way. Now it is easier.

It is funny that one of the first material that we use as peer to peer, money! It is first peer to peer solution, barter is the forefather of all peer to peer business strategy. With the revolutionary speed of internet, there is no higher costly transfer deals, commissions and unnecessary waiting times.

Peer to peer Financial applications started replacing exchange offices. No more line up in the middle of street and waiting someone to charge you commission because you need them. Your hard worked salary, the money that you save for your kids, the salary for your family. Why you need waste your daily hard work to people who are sitting and getting commission. Why your hard worked money has been cut by big fat banks? It is painful for many working people that they need to look after their family back in their countries. Current business style is a monopoly, it is slow, costly and not even considering hardworking people who just want to transfer their money to their loved ones, who pays their school fees or rent. This is the motivation why peer to peer financial platform will be the one which replace robust monsters that cut our lumpsum money.

I am you and you are same as me. We are all having same issues and same cut, why we need to feed big guys. Why we need to work hard every single day with dreaming our love ones, dreaming of being together one day we get together. However, giving large amount of commission, giving a share from our money to these big fatty chunky business monopolies. No, not anymore. That time is changing, taxi industry changed in good way for drivers and users, not anymore feeding this oligarchs of transportation. Travel has changed, it is cheaper now, affordable faster. All peer to peer business development, it is a revolution of business, it is the awakening of the customer. No more lining up and waiting for being devalued with our own money.

Yes, peer to peer financial apps already on the market, one day they will be the one change this vicious circle. Faster, cheaper, friendlier and yes, no more monopoly. Open space and plenty of options, this is revolution!

For Example, Meet Winngie Services. Winngie is a social platform for travelers, foreign students, expats, business people, and anyone travelling internationally. We help you transfer money abroad and exchange local money with real people. There are no hidden fees, no commissions, and no differences between the currency exchanges.
You decide the exchange rate and you find a solution that suits your needs.
We connect people with currency needs and help foster a mutually beneficial exchange. By cutting out the middle man, Winngie can help you drastically reduce the amount you pay while exchanging currencies. Say goodbye to your bank!

User Story Sharing: What I Found Saves My Day

Everything is getting changing quick lately, and we are facing hard time to follow up new trends. I am sure there are many people like me who thinks herself as updated and following all details and news on time and aware of new concepts, we are more open minded and eyes open than previous generation for sure.

Actually I use Airbnb lately a lot, it is so handy and amazing to get a great deal. Uber, as a nice and proper way, gets the taxi anywhere I want, no more taxi line.

Lately I am using this application called as Winngie, and it is so handy. I did know it before but never try to use. Once I was in Tokyo for a business and on the way back to Thailand, I realized I had insane amount of Yen left, and I didn’t know how much currency difference I would lose if I exchanged it back USD and then Thai Baht. Then I just used Winngie at the airport first time ever. Wow! It is an amazing application. I got a Japanese lady who just came from Thailand and she has Thai baht on her and then we matched. We both got amazing rate, we met, and exchanged our money without even waiting on the line. I saved my money, and she was so lovely. We were both happy!

It is like when you line up on the exchange office and you see someone who wants to exchange money that you also want to get money. You know she will exchange money with very bad rate, and you will get that money from exchange office with worse rate too. Both lose and lose! However, you cannot stop her and ask if she can exchange with you directly.

Winngie is that platform. It does for you. I didn’t use before, and I always lost money. For me, it was a common process and it was something expected to lose over currency exchange rate. Now no more! I don’t think I will wait for exchanging bad rate.

When first time I used Uber, I felt same as well. No more taxi lining or waiting. It is not something I would like to wait for. Uber saves my time and I feel safer as all information of driver has already been registered and makes me more comfortable as my route has been recorded already. As a woman travelling alone, I feel more relax and safer with Uber. It happened in Airbnb as well, and now I feel same for Winngie as well.

It is so great to get some new application that helps us and work on our essential as a niche market. Work hard on what we need and solve the problems directly. I am so jealous of the mindsets of these platforms, solving the problems with way of changing the things in total.

I really need Airbnb, Uber and Winngie in my life, and I didn’t even know them before. It is like missing Iphone, but we haven’t had smart phone in our young ages. Fantastically, everything is on the move. Last time, it was Winngie, and I am not sure what would be the next one.

Marginalizing on Margins

The trend in the travel industry is changing drastically lately, and the business has been in a direction that all transaction and services is decided before heading to destination. Many travelers are not anymore using travel agents or any other brick and mortar institution as their previous generation who used to use for travelling.

Lately, most of bookings and land arrangement are handled via online. Many people book their flight ticket via online and then book their hotel as a combination with their flight. For their travel information and entertainment tickets, it is very common to get through online sites as well. It was the latest trend in the market. Many people used to follow this path.

However, it is also changing in a different way. Travelers lately have been starting using online C2C platforms for their schedules. Airbnb is a platform that the travelers book their accommodation. Uber is a platform for travel-lovers to arrange their transportation. Winngie is a platform for tourists to exchange their currency.

The trend on C2C has been developing so fast in last years. Airbnb was basically paid option of couchsurfing, which has been a phenomenon in all over the world. It makes accommodation like at home, you can rent an apartment and stay there as your own. It gives a flexibility that you can live as a local, cooking and partying. You can have your own free space and adjust yourself true local environment. Basically, Airbnb changed the perspective of accommodation for many travelers all around the world, and now it is getting a norm for accommodation as well as many options as in hotels as have.

Uber is a revolutionary taxi that you can be a taxi driver as a local and as a traveler you can get so quick and safe way to hop on. Uber changed all transportation industry especially in city centers. Not anymore need to wait for a taxi and try discussing or settling with your destination. It is already handled by Uber itself. It is an amazing application that you can find your driver and take you all around without paying high commission or service charge as you are a foreigner and being waited pay more than local. Uber solves it very smartly.

Winngie, this is an amazing platform. It was a niche for many. It gives you an easy way to get your money exchanged without paying ridiculous commission. It has its own matching programmer which works so smartly, it gives you all details around you and you still have best capability to get a rate that works on you. It is so trustable and you feel as it is secured by Winngie. The platform has been very well received in all around the world, you would be able to exchange Uruguay peso in Uganda. This is something in mind opening and revolutionary in all. Not only it is for travelers, but also it seems getting so popular in business environment that many users are utilizing the platform as a best way to avoid from high commission and service charge implemented by exchange offices and banks. Their customer service is helpful, as mainly same as Uber and Airbnb. You will feel safe working with their service, and quality has been assured by all platform.

Different than brick and mortar business, online business gave us a capability that we can find the better solution, on the other hand C2C already goes further level, and lets us marginalize our demand. Airbnb offers a great chance that you can live as local with a budget-worthy price, Uber gives speed and safety feeling, and Winngie gives a quick and smooth transaction capability all over the world. You are no more stressful with using your credit card and losing great deal of money through commission or bank charge. Winngie saves your money, gives you flexible exchange way, and you still feel safe and relax without running somewhere to exchange several currencies and losing on exchange rate.

Market and business are changing; it is not as stable as before. People have more power and see their way as they would like to minimize their cost of service. Direct transaction on a sustainable platform is the way that they feel comfortable.

Keywords: money exchange, transfer currency, Winngie, Uber, Airbnb, Travelgram

Altering Business Model with C2C

E-commerce has been evolving rapidly and its speed is a crucial part of it. It has its own speed that far levels up than brick, and mortar business has achieved ever. It creates new challenges and opportunities overall in for all businessperson in the world.

Lately, the most well received way of e-commerce is C2C, according to latest studies. New generation is more likely to use online options for any kind of transaction and business option, even there is no limitation for any product and service type as widen up all business types.

There might be always questions regarding to what C2C e-commerce means and how it works. C2C e-commerce is a branch of trade relations where both sellers and buyers are clients, not entrepreneur only. It provides interaction facilities between parties with its own platform. As trend itself, buying-and-selling product is not easiest deal online. There are many platforms that provide services.

How it works is more simple than many thinks. Sellers and vendors sell their own products on the web and let the customer purchase the service. In terms of security and speedy process, many vendors prefer using online platforms as a media to sell their service or products. E-bay is a good example of purchasing products as C2C business style. Uber is a way to exhibit C2C business based on service providing. Winngie is a received C2C financial tool that provides both sides of clients to take advantage of money exchange and transfer.

There are plenty of advantages of e-commerce, as it is the fastest way to handle business and the easiest way to get customers. However, sometimes e-commerce is not considered as the safest place. It is generally associated with fraud and deceit. Buyers and sellers may not be confident in their counterparts. In addition, swindlers may use a famous brand on their sites to mislead users. There is always the danger of identity theft. However, many C2C players sustain from well customer service, sustainable service and safety precautions. For example, Winngie creates sustainable safety procedures on their service and its platform considered as a safe media, even safer than many banking transactions itself in terms of check ability and controllability.

In the market, there are many players coming over and trying to find solutions for niche problems such as Airbnb. It saves time as the great deal of money for people to get into another country and enjoy domestic travelling. Now there are more specialized applications which also provide for business travelers. Uber provides new way of business for people looking for food and delivery which are also the easier with Ubereat now. Besides, Winngie has a great advantage in money exchange overseas and creates an easy way to connect people who would like to transfer money around the world. Winngie saves many time and money for currency exchange and risk has been diminished. For businessmen, they have altered on the favor of customer who are used to paying unnecessary transaction fee during travels. Winngie, as good example as Uber and Airbnb, has its respective industries. Tourism industry and travelling have been completely changing and shifting in a way quicker than these 3 application and platform. Uber, Winngie and Airbnb have a great deal of business alter power on the market.

Keyword: C2C, Winngie, money transfer, currency exchange, innovative finance, E-commerce

C2C Commerce and the Best Global Examples

C2C commerce in a way, called as peer-to-peer e-commerce, is a basic concept to grasp and a quite trendy business model for many companies lately. It bases on with an existing platform customers who would be the supplier, and supplier who could be the customer. This type of platform transaction goes on certain platform and business runs between direct customer themselves. This business engagement is being on platform, but the business is direct as this is the substantial basic structure that we see in C2C commerce.

The way of business and the model itself differs from business to business and conceptually has evolved based on the business pattern of certain industries. It is a structure of business based on mutual benefit of 2 parts and then uses the platform as true way as platform. The platform itself is a basic place that transaction has been secured and controlled in a way and facilitation of business has been regulated.

There are many ways that peers use the platform as securing the transaction, receiving sustainable demand, and having their own supply market properly. It is a mutual performance way that many users satisfy with their effort ,and the payment has done for the process on platform.

Structurally speaking, it creates lump profit for sellers and buyers or users and service supplier. Technological advances and greater availability create the better conditions and demand that many business partners will find their own supplier quickly. Especially in service ones, speed and transaction success percentage has been dramatically shifted and this change is the main actor in the industry regardless of which part of business they involve.

There are many examples already involved in several different industries such as E-bay, Craiglist, Winngie, Uber, Airbnb and many local players such as Grab, Tujia etc.E-bay is one of the most famous e-commerce platforms that many users enjoy great benefit and speedy business structures. It has been used all over the world, and has been in long time in the industry and great market acknowledgment.

Craiglist is a platform dedicated for various sections and business including classifieds and advertisement. There are plenty of information and demanding details that many find it as a great source of product and information.

Winngie, the unique social maker, mainly focuses on money transfer and foreign currency exchange. For many users, it is a must when they are travelling and it’s a budget-worthy platform that they can find out the best exchange rate deals, and probably make friends with their match. For expats, it is a convenient tool to transfer their money and pay their own mortgage or school fees back in their country to family and friends. It is a financial tool that changes the industry and turns to be popular lately.

Uber is a transformation starter in the transportation idea with a basic start, changes the transportation industry business model, and pushes the business one step further. Many platforms follow Ubers footstep and tries to execute the same structure as Uber model, but still Uber is the most successful one to change the market environment and involves in several different business areas.

Airbnb is a revolution in accommodation business. It not only changes all mindset but also creates a new of stay. It starts from the pathway of couch surfing and at the end it adds more commercial model on top it. Still it is the newest method and innovative way in its industry and it consistently influences the tourism environment.

C2C player mainly focus on new generation players and gets good share from merging business, such as, what Uber done, as combining meal and transportation which creates Ubereats. Winngie Exchange and Transfer Money has the similar model, combining technology with financial business in all around the world.

Globally, the new movement is C2C which will be a new way to create a new era. There are many new players but currently the ones Uber, Airbnb, Winngie, E-bay and Craiglist who sustains its corporate in their own market.

Keywords: C2C, Travelgram, Uber, Airbnb, Winngie, sharing economy, peer-to-peer

Uber faces hard time in London. Peer to Peer Mobile App Articles.

Uber faces hard time in London. Peer to Peer Mobile App Articles.

As we all heard on September 22, 2017, TFL, which regulates transport in the capital, announced that it would not renew Uber’s operating license.

This meant that, as of September 30, Uber would no longer be licensed, but it was able to continue to operate until all appeals were exhausted. However, UberEats, the company’s food delivery service, was not affected by the dispute. Company itself already moved it’s effort on to UberEats which is a secondary substitute business for Uber.

According to TFL (Transport For London), Uber is considered as “not fit and proper” to operate in London. As the city itself is famous with own specific design cab design and with highly appreciated quality of taxi drivers, Uber might sound a tad of losing the taste of the good image of London. It is a new business style and invading conservative way of business.

In London, the firm faced criticism from unions, lawmakers and traditional black cab drivers over working conditions. Overall the existing suppliers in the market are not happy with their new unconservative rival. Many faced this trend in the past, the new one who replaces the old conservative way. Uber is considered as danger for their existing quality and established well developed transportation way.Opponents also claimed it caused gridlocked roads and did not do enough to regulate its drivers.

As expected Uber appealed TFL for licensing decision on October 13, 2017. Uber claimed that the ban would danger 40,000 jobs and affect 3.5million customers. It is a fact that C2C business gets bigger and the consequences of blocking is also substantial.

The newly assigned CEO Dara Khosrowshahi, who replaced former CEO, and co-founder Travis Kalanick, used to work in Expedia which is also affected by C2C development of Airbnb itself, said: “Drivers who use Uber are licensed by Transport for London and have been through the same enhanced DBS background checks as black cab drivers. Our pioneering technology has gone further to enhance safety with every trip tracked and be recorded by GPS.

He mentioned clearly “We have always followed TFL rules on reporting serious incidents and have a dedicated team who works closely with the Metropolitan Police.” However, in the court Chief Magistrate ruled out that TFL had right to refuse a new license in September 2017 because of the reason that as mentioned Uber is not fit and proper to operate taxi in London metropolitan area.

But she concluded that the company had made enough changes to its business practices, allowing it to continue operating.

Uber has been battling with the magistrate decision and claimed it as a serious mistake which has been implemented by the court.

At the end of this battle, Uber agreed to a 15-month “probationary” period with the restrictions agreed with TFL on June 26, 2018. It will give a leverage that Uber will use the probation period as an advantage and classify itself for five-year license which is good enough to revolutionize market and implement its power into London.

Uber is an example of battling with the local market in London meanwhile Airbnb also has hard time back in London. Airbnb has been faced local accommodation law intervention several times. As there is a C2C market shift back in London and thanks to Uber battle which is already started long time ago, Airbnb will face less hard path. Winngie is another C2C stronger player which has been facing dispute and issues back in London. However, with their strong network into system and less established foreign exchange currency trade in London, it is easier to implement power in London market. Many travelers from London use Winngie as a media to exchange their currency to local money before they leave from London. Winngie Exchange Currency and Transfer Money Mobile App has already in the market for a while and not been replaced for a long time. Airbnb and Winngie might be following same path as Uber’s experience, but currently these two big C2C-players have no big concerned as a problem in London.

Keywords: Sharing economy, C2C market, Uber, UberEats, Winngie, AirBnb, Exchange Money, Transport for London

Year: 2019

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