How Cloud Technology is Changing The Face of Money Exchange

June 7th, 2012

The foreign currency and money exchange landscape has changed dramatically in recent years and much of this change can be attributable to the technological revolution which has transformed the way exchanges take place and the ability of investors to access real time information at the touch of a button. There is no such thing as downtime in the modern era and experts predict that we are just tipping the iceberg of the developments that are set to take place over the next decade.

With the rise of the internet and Smartphone’s that literally enable customers to carry the world in their pockets, live currency and money exchange rates can be followed every second of the day. News and predictions can be fed through as and when they happen and tip offs can be communicated in an instant.  Best Exchange Rates UK believe that these trends and technological advancements remove a massive element of risk from foreign currency exchange transactions. Businesses and consumers have the ability to be as well versed as city traders, information is more diffuse and readily available to anybody that wishes to access it.
In line with new technology and the readiness of information, it is now possible to make payments at the touch of a button. There are absolutely no barriers to undertaking foreign money exchange transactions. Cheques have been on their way out for some time but as we move into the next decade it looks like ‘hard cash’ and even card payments will become a thing of the past. Digital payment technology means that disbursement can be made through cloud based verification systems. This involves a simple click or wave of Smartphone technology in front of a specialist reader device to confirm a transaction or purchase. Supermarkets are beginning to use this technology and it is also being widely used in the media – through promotional activity used to drive demand generation. This technology is also opening up opportunities for foreign money exchange. There are a number of Smartphone apps on the market to enable businesses and consumers to work out currency exchange rates and get the best deals in real time. Many consumers and businesses are becoming switched on, setting up daily feeds to make sure they get the best deal, it might be for an international import or export or for individual’s wanting the best rate for a holiday. Best Exchange Rate UK monitor technological advancements and will be delivering up to date news as and when it happens.