Before we dive into the nitty-gritty of business, let's get a grip on some journey so far. iSendMoney started as a mere spark of an idea, inspired by a personal challenge that I, and many others(international students in Canada, Australia, and the United States), faced.
I'm sitting here, trying to figure out how to pay my college fees when the banks back home don't offer direct transfers. There's got to be a way people handle this, right? How does everyone do it?
So, that was the idea to get started and I tried to streamline the process by making it faster, more accessible, and scalable in the future. Here's my traction & timeline of iSendMoney.
Web & PWA Release:
The iSendMoney website and its Progressive Web App (PWA) version are set to launch officially! This new service will make sending money across borders a breeze. Plus, with the PWA, users can process transactions offline with some features still accessible, ensuring you're always connected to your finances.
We know that our users love the convenience of mobile apps. That's why as of today, November 5th, 2023, we're focusing our efforts on developing a robust mobile application for iSendMoney. We're nearing the completion of our prototype and we're thrilled about the extra features that will be exclusive to the mobile experience.
To start, iSendMoney will be available in select regions: Canada, Australia, Nepal, and the United States. However, we're already looking ahead to Phase 3, where we plan to extend our services to a wider range of regions, broadening our market reach and growing our business.
Custom ACH System & Open Banking API:
Up until now, we've been leveraging various SaaS platforms to ensure a seamless user experience and efficient payment process. Moving forward, we're setting our sights on developing our own Automated Clearing House (ACH) system and integrating Open Banking APIs, all thanks to strategic partnerships with private banks across the globe.
What began as a spark of inspiration has now taken the form of a Minimum Viable Product (MVP), marking the first tangible step in the iSendMoney journey. With the MVP's success, our focus has shifted to fostering business partnerships and developing a dedicated mobile application—key strides towards enhancing accessibility and convenience for our users. Our ultimate goal? To weave iSendMoney into the fabric of daily life, making it an indispensable tool for global financial interactions.
Newsletter by Laxman Rai, Founder of iSendMoney.