Aryty CEO Nils Johnson says that it is quite common for families in America who have loved ones in the Philippines or India to send money on a fairly regular basis as a reminder that they’re thinking of them. But standard wire transfers, especially for small amounts of money, tend to be highly inefficient because of the way fees are structured — you might pay in excess of $10 in fees for a wire transfer of only $20.
In contrast, Aryty has no fees. Families can send money directly into the cellular accounts of their loved ones without losing anything in the process, which makes it more appealing for these ‘thinking of you’ transfers. To initiate a transfer, you simply enter your credit card information, and the credit is instantly added to the cellular account of your loved one abroad (they also receive a SMS message alerting them to the addition). Click on the link for details.