The SME market now has a new no-frills, low-cost foreign exchange website which is a stand-alone site providing real-time currency quotes, enabling immediate execution and low-cost transactions.
XYLO, backed by Westpac, has been developed specifically to enable SMEs to gain access to competitive wholesale foreign exchange rates with low international payment fees.
“XYLO has been developed in response to a growing demand in the SME segment for efficient and low-cost foreign currency transactions,” XYLO Business Sponsor Mike D’Silva said.
XYLO is a specialist site that provides customers with direct access to the wholesale foreign exchange markets.
The additional support of Westpac’s existing payment processing channels enables XYLO to offer rates that are among the lowest in the market.