16 Dec 2010

Web-based currency exchange service launched

7:53 am on 16 December 2010

A new web-based currency exchange service is being launched to take advantage of the close links in the Pacific region.

New Zealand, Australia, Samoa and Tonga the first countries to go live on the KlickEx.com service.

The software has been developed at Auckland University's Icehouse incubator.

Among the shareholders is the former managing director of Microsoft in New Zealand, Ross Peat.

Mr Peat says the company is targeting the smaller end of the market, or lower value transactions. He says the company will be clear about the exchange rate applied.