If you travel frequently, you can agree to the fact that nothing is more frustrating than leaving the airport with a couple of leftover and unused cash. You are not aware when you will revisit the country, so the money is going to be worthless, or you may save it to remember your journey.
Going to the exchange booth is not a suitable option since they don’t usually take the coins. Keeping that in mind, you find best possible methods to spend the entire amount purchasing different items even when you were not willing to.
This is the problem which majority of the travelers like me face on a daily basis, and Ali Zekeria is very much aware of it. A couple of years ago, Ali launched WorldKoins, a marketplace that assists the people to accept their leftover currency and transfer the amount back to the services of their choosing, for instance, PayPal.
This may sound a little tricky but is quite simple. The travelers track and find collectors through the application and deposit their remaining money to them. These collectors could be anyone, a local, a driver, a barista or someone else. These people later onwards will ratify the transaction through a different app, DropKoins, and then later credit the amount to the account of the person. A small commission fee is charged for the services rendered, which is distributed between the collector and the startup.
The remaining amount of money can be used to purchase different gifts, and goodies like Google Play credit, XBOX and PSN credits, PayPal top-up, or a donation to the charity of your choice. All sorts of currencies from different parts of the world are accepted here, provided the fact that the collector has agreed to transact with the person.
According to Zekeria, almost one billion travelers are traveling to different locations all over the world, and nearly all of them are facing the same issue of the leftover cash. The problem was massive, but the solution was simple; to provide with a service that would convert their left-over cash into gift cards and other things. Keeping that in mind, Zekeria and his team worked day and night to facilitate billions of people while ensuring that the layout of the app is easy to understand and easy to use for the people.
Zekeria believes that the transactions made through WorldKoins are entirely safe. Every exchange is validated and encrypted through a password made once. Once the collectors submit the financial information into the app, a text message is sent to the traveler with all the possible information, details of the transactions and a password to seal the deal.
Once the travelers are impressed and satisfied, they will transfer the password back to the collector who will place it inside the app. This approach reduces the chances of any problems, and both the collectors and travelers are satisfied.
Ali Zekeria believes that this app has a future and will gain a massive reputation in the coming years providing a wide range of convenience to the travelers across the world.