WirePay is a US subsidiary of a London-based foreign exchange company that has been operating since 2012. The CEO, Darren Hutchinson, has over 13 years of experience in foreign exchange. WirePay provides competitive exchange rates and services for individuals and businesses involved in international trade, payments, or asset management. They have helped clients in industries like wine importing, tourism, and overseas property investment save thousands per year through better exchange rates and reduced fees.
2. Who are WirePay?
WirePay is the US subsidiary of London based foreign exchange
trading house Infinity International, Ltd.
Operating since March 2012
We are registered with FinCEN (US Department of Treasury)
We are also Bonded and Licensed in Commonwealth of MA
Our management team has over 50 years collective experience
We have over 3000 clients globally on our books
We currently execute on average over 100 international wires daily
3. Who is Darren Hutchinson?
I personally have 13 years experience in FX markets.
In 2000 I started at FX Solutions as a trainee, left as Senior Trader
In 2006 I formed Axia Fx Ltd and sold my stake in 2009.
Moved to US in 2009.
Became 2010 Foreign Relations Director Boston Merchant Financial
Incorporated WirePay in 2012.
Left Boston Merchant Financial this year.
I am married to Pamela who is from Acushnet.
We have a 2 year old Son Max and another baby due in March.
4. What is Foreign Exchange?
Foreign Exchange (forex, FX, or currency market) It is the largest
traded financial market in the world with a daily turnover of $5
Trillion Dollars, with London being the dominant force of that
turnover.
5. THERE ARE 168 DIFFERENT
CURRENCIES IN THE WORLD
The world is a smaller place!
6. What we did for Wine importer?
Benchmarking against their current currency supplier.
Historic price matching across their last 5 invoices.
Suggest trading strategies to protect their profit against exposure
Make sure that they are correctly “HEDGED” against the Euro
Result saving them over $20,000K per year
7. What is a Currency Hedge
In very simple terms, currency hedging is the act of entering into a
financial contract in order to protect against unexpected, expected
or anticipated changes in currency exchange rates.
8. What we did for Tour Operator?
Make sure they are getting the best rates of exchange.
Provided them a better foreign exchange price by 0.5%
Reduced their wiring yearly fees from $9K to $3150.00
Gave them online technology to make batch payments
Total saving per year $9150.00
9. What we did for client sending funds to Israel?
Secure method rather than sending checks overseas
Make sure they are getting the best rates of exchange
Provided them with a cheaper solution to collect funds domestically
Reduced their wiring yearly fees from $40.00 to $2.00
Gave them online technology to make payments
Streamline regular monthly payment to a effortless solution
Saving per year $1,536.00 on their regular payments
10. What you will get from WirePay?
Competitive foreign exchange rates
Reliable, transparent service
Dedicated account manager
Security compliant and regulated
11. Companies that will benefit from WirePay services
Import or export goods
Deliver services in overseas locations
Engage in cross border trade
Own or manage overseas assets and facilities
Compete in the international business arena
12. Why Individuals will use WirePay o
Transfer funds to an offshore location
Regular monthly payment mortgage, pensions or dividends
Emigrating to a new country
Buying high value items antiques, art or fine wine
Acquiring or selling property in another country