Increasing Transparency and Efficiency
Despite the plethora of advancements in the fintech space, financial exchanges were not keeping pace. Currency exchanges remained expensive and transactions were slow. Midpoint was conceptualized to redefine cross-border commerce. The objective of the company was to increase transparency and facilitate efficiency in the global flow of value. Midpoint offers cross-border payments, multi-currency wallets, and FX services. Instead of making money on the spread, the company gives businesses and consumers the midpoint rate and then puts a transparent fee on top—which is how it generates revenue.
All customers of Midpoint know how much the company is getting paid and they can access the best rates available. The company also provides Avios points on every conversion—which can be used as travel rewards. Midpoint has established partnerships with Avios the travel rewards program and frequent flyer currency of the British Airways Executive Club, as well as numerous airlines operated by the IAG Group including BA, Vueling Aer Lingus, and Iberia.
David marshals the troops at Midpoint. He mentions that every member of the team knows the work they do makes a difference to the company as well as its customers. David is motivated by providing the very best customer service possible, which starts with great company culture. “Everyone is encouraged to make mistakes so they can learn from them, and we have a young and diverse team that really brings a particular energy,” he asserts.