Introduction

The FX Rate API module retrieves MoneyGram's latest and most competitive Foreign Exchange Rate for a destination country. The Fx Rate endpoint will return a list of FX Rates for each service option available to the given destination country (i.e. India: Cash Pickup, Bank Deposit, Mobile Wallet).

The rates that are returned can be used to build a variety of features within the application, for example: "Quick quote", "Fx trackers, alerts & notification", "Today's best Fx Rates", or "Convert Account Balance".

NOTE: The FX Rate that is returned is not a formal quote, it is only an estimation and cannot be used on the transfer of funds. The 'Quote a transaction' endpoint must be used on a transfer of funds, to provide generate a full quote and disclose all associated fees, FX, taxes, promotional discounts and totals.

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API sequence

The FX Rate API module comprises of a single synchronous endpoint. The process for retrieving a status is as follows:

1. Retrieve a rate by destinationCountry | GET /fx-rate/v1/rates
   The application must provide the originating country, send currency and destination country as query parameters to lookup and retrieve the most up-to-date Fx Rate.

The application can develop a number of features to promote our FX Rates and convert the customer in to a formal transaction quote. Once the FX Rate is retrieved, disclaimers need to be displayed in the application UI to explain the FX Rate is only a estimation.

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API sequence diagram

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Endpoints

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Example screens