Moreta offers a digital wallet that enables international travelers to make secure mobile payments by scanning local QR codes, linking directly to their bank accounts for seamless transactions. This solution eliminates the need for cash and multiple currency exchanges, reducing foreign transaction fees and providing real-time currency conversion at competitive rates.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
International travelers often face challenges with payments, including the need to carry cash, deal with unfavorable exchange rates, and pay foreign transaction fees. Local QR code payment systems are prevalent in many countries, but are typically inaccessible to foreign visitors.
Solution
Moreta provides a mobile wallet that enables international travelers to make payments by scanning local QR codes, linking directly to their existing bank accounts. Users can securely connect their bank via Plaid, add funds in their local currency, and then scan merchant QR codes to pay in the local currency. The application automatically handles currency conversion, providing transparent fees and eliminating the need for cash or multiple currency exchanges. Moreta also offers 1% cash back rewards on purchases.
Target Audience
Moreta targets international travelers, expats, and nomads who need a convenient and cost-effective way to make payments in countries where QR code payment systems are widely used.
Features
- QR code scanning for payments compatible with local payment networks in supported countries
- Secure bank linking via Plaid
- Real-time currency conversion with transparent fees
- 1% cash back rewards on all purchases
- Travel budgeting tools to track spending and set limits
- Real-time transaction alerts and fraud monitoring
- Compliance with U.S. financial security standards, FinCEN-registered and MSB-licensed
- AI-powered identity verification via AiPrise