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Safe, Easy and Inexpensive Digital Banking for Nomadic Souls

Secure, convenient, low-cost banking for Nomads and International Travellers 

If the online shopping bug hadn’t bitten you before, it probably bit you during a certain unnamed pandemic. Many of us are now shopping online, and some are back on the road where the flexibility to purchase on and offline in another currency is even more essential. The same goes for nomads and workers abroad.

Breaking down barriers with online neobanks

Loads of people are looking for the flexibility they need with digital banking. In fact, according to research by AT Kearney, over 80 million people will use neobanks in Europe by 2023. But that’s just Europe. Asia, for example, is an extraordinarily advanced digital banking market. Unfortunately, some countries and regions cannot say the same. 

One example is Latin America, where, in many countries, the US dollar has long been a safe haven. In this region, digital banking is just now picking up speed. So say “hello” to a host of new travel destinations without financial worries. Quppy is helping to level the playing field with its US dollar wallet capabilities, instant SWIFT transactions, and prepaid payment card.

And, unfortunately, the most powerful governments in the world have found that the financial system is one of the most effective ways to respond to geopolitical moves that are not to their liking. For example, suppose you’re in Eastern Europe and the Balkans, where political posturing and threats of sanctions have appeared in the news more and more frequently. In that case, you might be thinking about how to protect your money from excessive inflation or restrictions placed on traditional banks. (Today’s sanction news centres on Bosnia and Russia, but who knows what tomorrow will bring).

Mobile banking can help you weather the storm by allowing you to diversify your currency holdings. So if you work in, or travel frequently to, places where the local economy is weakened or under threat, holding currencies in safe, relatively stable currencies like GBP, USD and EUR can help you protect your wealth.

When cryptocurrencies have your back

Living and working in any world region where economic instability is a concern might also lead you to explore cryptocurrency. Using crypto as a store of funds, though volatile, may help you avoid trouble with a local currency. But even more critical than a store of funds, using cryptocurrencies for international and local transfers can help you avoid troubles that may affect local banks.

While local banks are highly regulated and controlled by governments (in other words, centralised), cryptocurrencies have the advantage of being run on peer-to-peer networks (in other words, decentralised). And while traditional banks exercise a lot of control over your bank transfers, cryptocurrency transfers are controlled by a global network of people. This peer-to-peer network is not subject to the same rules, regulations, and sanctions that traditional banks are.

Note that cryptocurrencies are still very volatile compared to major world currencies like EUR, USD and GBP, and there are a lot of risks involved. However, there are cases when holding and transferring funds in cryptocurrency are much more favourable than traditional transfers. 

If you’d like to read more about the risks and benefits of cryptocurrencies, we recommend starting with this article:

Contactless payment

Long gone are the days of travellers’ cheques (does anyone still remember those?), but we still find ourselves carrying around loads of cards and hiding cash while we travel. That’s not ideal, especially in large cities where pickpockets seem to be getting more creative by the year. Mobile payment eliminates the need to carry around 10 different backup payment methods. 

One Quppy prepaid card for contactless payments and the mobile app for SWIFT and SEPA transactions means you have all the tools you need in one convenient app. Just guard your phone safely and stop carrying around that bulky wallet in your pocket.

But isn’t mobile banking inherently dangerous?

Quppy is a convenient app created with security built-in at every step. Quppy uses decentralised storage technology to keep your transaction data safe. Quppy financial services are managed and maintained through a peer-to-peer network, which helps to protect your data from attackers who want to steal or alter transaction data.

And if you’re holding digital currencies like Bitcoin and Ethereum, you can rest assured knowing that your private keys are stored on your device rather than on a server. That means your keys will stay safe even in the event of an attack on the wallet server.

Quppy abroad

Safer ecommerce transactions

If you’re abroad and find it easier to purchase groceries, gifts, and everyday items online, Quppy is a safe app that provides a payment card auto-selector. The machine learning built into the auto-selector understands both which card you’ve chosen to use in previous transactions with the vendor and the best security option for any given situation. The auto-selector picks a virtual payment card in cases where the payment processor permits it. This is the safest method of paying as the card is disposable. Should your card details find their way into the wrong hands, taking action to prevent them from making a payment is easy and immediate.

A host of crypto and fiat currencies at your fingertips

Quppy makes multi-currency IBAN accounts easy to open, so you can easily top up your accounts with new income and hold your money in a desirable currency with less associated risk. 

Multiple countries, safer transactions

Going mobile with Quppy means a safe, diversified, decentralised and convenient way to manage your money, no matter what country you’re in today and where you might appear tomorrow!  Stay in touch with our team to hear about the exciting new features coming out in the next year: sign up for our newsletter here.