Whenever I can, I talk here about some of the startups I invest in. I do this because all of them generally have a purpose in order to heal a pain.
And one of the main pains that exchange students face, without a doubt, is the expensive cost of sending or receiving money from abroad.
I suffered a lot from this when I arrived here in Ireland. After all, for those who have limited money, fees can weigh heavily on their pockets.
Knowing this, I started the startup Easy Pay. The idea is to improve this problem that most exchange students face when they arrive in the country.
Less fees and less bureaucracy
Easy Pay was born with the purpose of making life easier for students. My idea was to create something that didn’t have abusive fees or bureaucracy when sending money abroad.
I know that most exchange students are usually on a tight budget, and any fee savings make a big difference in their lives.
So I thought of something very simple. So Easy Pay works like this: the student just needs to fill in a short form and the amount he wants to send.
Then just indicate the account that will receive the amount abroad. And then the transfer will be processed without fees or taxes being paid.
See how easy it is? You send more money and pay much less fees. The result is that there is more left over for the other expenses you will have here.
Making it accessible to everyone
Now you ask me, but Tiago, why is it so simple, there is no risk? The answer I give is no. We use an extremely secure environment to make the transfer.
It’s just that we Brazilians are used to attributing security to bureaucracy. And something to be safe does not necessarily need to be bureaucratic.
Take Nubank for example. It is a digital bank with an extremely secure environment in which you can carry out all your operations in a very simple way.
This is one of the main examples of an institution that shows that to be safe, there is no need to be bureaucratic. And that’s exactly what I wanted to bring to the world of international transfers.
And can there be illegal money transiting?
This is another question that I also bothered to ask. And that’s why we created a system that if there are suspicious operations, it will ask for more documents.
Therefore, it is not that the whole process is bureaucratic, only those that really have some suspicious movement. This will be precisely to prevent illegal transactions involving the platform from occurring.
Also because, my idea is that it is mostly used by exchange students, and with that it helps to solve their main problem, which is the fee and bureaucracy. Another one of my dreams of helping those in need is born here.
