Various Companies in Japan are expanding their businesses through global trade, but fluctuating currency rate has been a major concern for them.
Japan's NTT Communications has developed a new innovative platform to solve this problem with guaranteed rates.
"Foreign currency exchange rate changes every second, so for Japanese clients as well as foreign clients, this makes a huge challenge for their global trade. We can solve this problem by foreign currency exchange platform service with guaranteed rates. It will be much easier for clients to export or import domestically. This is why NTT Communications developed a new system API (Application Program Interface) and through our system global business can be performed very smoothly," said Hal Higashide, NTT Communications.
The new platform is now used successfully for trade between Japan and Africa. Local customers expressed their high satisfaction with the new service during an online meeting between headquarter in Japan and local staff in Kenya.
"Our company is Japanese used car exporter. Basically, we trade using US Dollars with our clients. On our website, you can see car prices in US Dollars although our customers are in Kenya. But, after we started using the NTT Communications system (HCA) Home Currency Anywhere, prices can be offered not only in US Dollars but also in local Kenyan Shilling. From our customer's point of view, they can see the exact amount they need to pay in their currency without worries about the fluctuating exchange rate. So, the HCA system helps customers to know how much exactly they need to pay to buy the car," said Daisuke Gomi, SBT.
"Actually, this is my wallet, as you can see I keep deferent currencies, in addition to cash we use in Japan Electronic Money (e-money) but it can be used only in limited regions. Many clients face this challenge as we think. Guaranteed rates by digital exchange platform service can help clients to increase their business so we thought of this possibility and developed the platform," added Hal Higashide.
"By using e-money for online foreign exchange in the future, we expect to see every day ten million transactions after the end of Corona. We hope to establish this happy world for our clients. A key for the stability and prosperity of the international community is the dynamism that is created by combining 'Two Continents'. Asia - which is rapidly growing and Africa - that possess the huge potential of growth; and "Two Oceans", free and open Pacific Ocean and the Indian Ocean. This concept is shared and penetrated deeply and widely," said Hal Higashide.
( With inputs from ANI )
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