Remittance
A quoted rate that is locked for the life of the quote, with the margin stated in basis points — so the family at the other end gets the number you were shown, not whatever the rate became.
The diaspora sending money home, and the families receiving it.
Built, tested and switched off. It is a function of an issuer or an acquirer, so it stays off until the corresponding authorisation is recorded, or until an authorised institution operates it on the platform. Nothing here is offered to a customer meanwhile. This service will be available after the authorisation of the Banque Centrale du Congo; it is switched off by the administrator
The problem
A service advertises a low fee and makes it back on a rate the sender never sees quoted against a reference. The family receives less than expected and nobody can say exactly why.
How it works
- Ask for a quote: how much you send, in which currency, to which destination.
- The quote shows the rate, the mid rate it was built from, the margin in basis points, the fee and the exact arriving amount.
- It carries an expiry. Pay within it and that is the rate that applies.
- If you pay after it expires, you are re-quoted or refunded — never silently converted at a different rate.
What you can check
Facts about the running platform rather than adjectives. Each one is visible in the product, the API reference or the ledger.
- A quote carries its rate, the mid rate behind it and the margin in basis points, so the cost of conversion is a number rather than an impression.
- Quotes have an expiry, and a payment against an expired quote is re-quoted or refunded instead of being converted at whatever the rate has become.
- The arriving amount is shown in the recipient’s currency before the sender commits.
- Each corridor records its licence basis and its partners, and only a corridor an administrator has marked live may carry real customer funds.
- Conversions that are posted carry their margin into the ledger, so the true cost of a corridor is measurable rather than estimated.
What it costs
Two numbers, both quoted up front: the fee, and the margin on the exchange rate in basis points. The arriving amount is shown before you pay.
Questions
Why does the mid rate matter?
The mid rate is the reference the margin is measured against. Without it, a rate is just a number and you cannot tell a good one from a bad one. With it, the cost of conversion is explicit and you can compare services properly.
What if the rate moves while I am paying?
Your quote is locked for its lifetime. Pay within it and that is the rate. Pay after it has expired and you are re-quoted or refunded — you are never silently converted at a rate you did not agree to.
Who actually holds the money on the way?
Each corridor records its licence basis and the partners on both legs. A corridor only carries real customer funds once an administrator has marked it live against those records, which is a deliberately slow and documented step.
Read next
Currency exchange
Conversion quoted against a published mid rate with the margin in basis points, posted to the ledger as two linked legs so the cost of every conversion stays measurable afterwards.
Corridor network
A corridor records which phase it is in, under whose licence and with which custody model — as data, so moving from an orchestrator to a licensed issuer changes rows rather than code.
Agents and cash
Cash in and out through a human being near you, with the agent paid a commission the app shows before you confirm and a float the platform watches so the agent does not run dry mid-queue.