FXWeb Provides Enabling Technology for International E-Commerce
The release of FXWeb, the most comprehensive bank-independent FX payment system designed for the Internet, allows corporate treasurers in the US and Canada to receive wholesale foreign exchange rates on international currency payments, rather than the retail rates normally received. FXWeb brings to the Internet the comprehensive functionality and ease of use of Sonnet FX®, its flagship Windows®-based service for corporations. By aggregating trades each day from hundreds of companies using its service, Sonnet is able to negotiate the interbank or wholesale rate for its clients on more than 100 currencies. With FXWeb, users are not required to establish any new bank accounts or banking relationships, and may move funds or make payments from their accounts worldwide through a single easy-to-use interface, giving them unified management and reporting of worldwide payments and collection activity.