OzForex powers currency solution for Saasu cloud accounting software

Announcement posted by OzForex 11 Feb 2015

pay foreign currency invoices instantly, major savings in exchange rates and fees

11 February 2015 - Businesses can save significant money and time paying foreign invoices, thanks to cloud accounting software provider Saasu's new foreign currency solution, powered by OzForex (ASX: OFX), a leading provider of online international payment services.

Foreign invoices appear seamlessly on the OzForex Group secure payments platform, ready for payment with just a few clicks. Once paid the invoices automatically appear back into the Saasu software making reconciliation simple and straightforward.

The integration represents major savings of up to 5% in exchange rates and fees related to international money transfers, due to OzForex's highly competitive rates[1].

Small to medium business owners, accountants, CFOs and bookkeepers will be able to manage their foreign currency invoices much more efficiently, according to Marc Lehmann, CEO Saasu.

"Being able to pay foreign currency invoices easily and instantly, at highly competitive rates, will really take the pain away for the thousands of Australian businesses with foreign operations," Marc Lehmann says.

OzForex offers businesses the option of accessing a range of foreign exchange payment types, to avoid currency fluctuation losses which can typically add up to thousands of dollars per year.

"Currency volatility represents major uncertainty for many businesses. With the Australian dollar losing 30 per cent of its value over the past couple of years, many Australian companies paying for goods and services overseas are facing sharply increased costs. Pre-booking deals or using forex hedging tools can help avoid bill shock later on," says Neil Helm, CEO, OzForex.

[1] August 2014 research by Mozo found OzForex rates to be the cheapest among all providers compared, averaging around 5% cheaper than major banks for all main currencies.

About OzForex

The OzForex Group is a global provider of online international payment services for consumer and business clients. The OzForex Group technology also powers international money transfer services of Travelex, MoneyGram, ING Direct, Macquarie International Money Transfers and other international financial institutions. Established in 1998 with the aim of providing clients with a better deal, it has offices in Sydney, Toronto, San Francisco, London, Hong Kong, and Auckland. The OzForex Group provides services under the brands OzForex, UKForex, CanadianForex, USForex, NZForex, Tranzfers and ClearFX. Its parent company, OzForex Group Limited, is a publicly listed entity with shares traded on the Australian Securities Exchange under the code "OFX".

Media inquiries:

Caroline Shawyer

The PR Group representing OzForex

Phone: +61 401 496 334 (Australia)

Email: caroline@prgroup.com.au

About Saasu

Saasu is a global online software company with several thousand customers in over 50 countries around the world, and offices in Australia and the United Kingdom. Operating since 2000, Saasu was the first commercially successful online accounting software in Australasia. Its continued focus and lead on innovation and automation has granted Saasu several awards and makes it one of the most comprehensive online business financial systems for SMEs. For more information, visit www.saasu.com or follow us on Twitter @Saasu

Media inquiries:

Sofia Eastmond

Saasu

Phone: +61 2 8011 4440 (Australia)

Email: sofia@saasu.com