MOIN launches MOIN Biz Plus, a business-focused international remittance service

Fintech startup MOIN announced on the 8th that it has launched MOIN Biz Plus, an international money transfer service tailored to businesses.

MOIN offers an easy-to-use international money transfer service for individuals, corporations, students and others. Since launching in 2016, it has expanded its service to 47 countries. Its international transfers cost more than 90% less than those offered by traditional banks and are more than four times faster.

With the newly launched MOIN Biz Plus, businesses and sole proprietors can access the system anytime, anywhere to easily process and manage international payments. The service addresses user pain points and improves convenience. It significantly streamlines complex international payment and settlement processes, while invoice management tools help users forecast payment schedules and monitor exchange rates.

International money transfer services for small amounts offered by other fintech companies have limits of $5,000 per transaction and $50,000 per year—far too low for businesses. With MOIN Biz Plus, users can send money to 39 countries, including Japan, China, the United States and European countries, with no annual transfer limit.

There is no need to visit a bank or submit supporting documents. Users can complete a transfer request in under five minutes by registering an invoice for each transfer and entering recipient details. Existing recipient information is saved, so users can easily request transfers by selecting it from their records. Recurring payments can be requested in under a minute.

MOIN CEO Seo Il-seok said, “Drawing on the expertise we’ve gained from operating MOIN over the past six years and our reliable systems, we plan to continue updating the service so corporations and sole proprietors can send money overseas easily and conveniently.”