Undeniable Proof That You Need A Secure Money Transfer Service

The number of downloads, installations, and sessions has increased drastically for mobile apps in 2022. This is true, especially for apps relevant to online money transfer, as app trends for 2022 show that year on year, app installs grew by 35% for this category.

Let us shed some light on why we undeniably need a secure money transfer service in the modern era.

People Value Their Safety More:

One obvious reason for the trend shift from conventional ways towards digital is convenience. But, it cannot be denied that people now value their safety and security more than ever, so they adopt more secure methods.

People now prefer using a mobile wallet or a money transfer company to send funds electronically as it is a secure medium and the transaction typically takes place without a hassle. They prefer having the record of the person they send money to and the transaction receipt.

People are very cautious and only want to wire money using a money transfer service that takes care of the due diligence.

People Are More Fraud Aware:

Over the years, people have learnt that an email or text from a stranger asking for financial help is most probably a scam. A person trying to impersonate a family member that is in dire need of medical aid is likely a fraudster too.

Similarly, people do not buy a call or text stating that they have won a monetary prize and need to provide their financial information in order to get the prize money into their bank account.

The frequency of fraud has increased so much that almost all of us have encountered a fraudster or scammer more than 5 times. Long lost love, instant money bait, stranded family members, and fraud in the name of charity are all well-known types of fraud now. So, people are constantly leaning towards money transfer services that implement good fraud prevention and deterrence systems.

People Prefer A Regulated Money Transfer Service:

In the modern era, people look for service providers that have received some sort of licensing or certification from financial regulatory authorities in their respective countries. When making a financial transaction, people look for whether or not their money is protected. This guarantees that they will get their money back if their transfer is unsuccessful or unauthorized in any way, so they will not be held liable for fraud charges or penalties for unlawful transactions.

Fintech companies that are recognized by a financial authority in their respective country (such as the Financial Conduct Authority (FCA) in the UK, Australian Prudential Regulation Authority (APRA), Polish Financial Supervision Authority (PFSA), Swiss Financial Market Supervisory Authority (FINMA), Financial Transactions and Reports Analysis Center of Canada (FINTRAC), European Central Bank (ECB),

Her Majesty's Revenue and Customs Department (HMRC) and Financial Conduct Authority in the UK) are favored by people as there seems to be a sense of safety and regulation.

There are a lot of regulated companies that provide money transfer services. However, a large sum of transactions takes place via unregulated services/mediums, which are discouraged as they provide no guarantee and can even lead to terror financing or money laundering. These unregulated services have a huge loophole in that their records are hard to trace and follow, making them extremely unsafe for financial conduct.

Therefore, a financial service provider having licensing or certification from such an entity inspires confidence in people to use its services.

The bottom line is that SSL encryption, responsive customer support, anti-malware, anti-phishing, and licensing or certification are some of the sought-after features by people looking to use a money transfer service. Does not matter if a company is promising to deliver money in seconds; if it is not maintaining the necessary and up-to-date security measures, people will simply move on to the next service provider, as Fintech is an industry grappling for each and every customer.

ACE Money Transfer is one of the leading international money transfer service providers that fulfills the aforementioned safety and security standards and is also recognised by all the respective Financial Conduct Authorities from the countries of its service. So, be sure to use ACE Money Transfer to experience an instant, 3D safe and fee-free money transfer from 28 corridors to 100+ corridors to your loved ones.