International cash transactions and transfers are complicated and dragging. Sending and receiving money from the United Kingdom to South Africa through MoneyGram or Western Union has a lot of procedures and takes a lot of time. Funds in internet financial services like Paypal and Bitpay and digital currencies like bitcoin are not yet easily usable in the real world in local merchants and stores. Local small business vendors have difficulty accepting credit and debit cards during transactions because of the lack of a simple system that makes that possible and become limited to cash-only transactions which limits the number of sales they make.

Well a start-up based is Pretoria has taken it upon itself to solve all these problems and make the world smaller, or more globalized. Riovic, Inc. provides a cloud-based banking infrastructure and a service that lets people send cheques/checks to each other globally online and convert these cheques/checks into real usable cash within seconds. The money sent comes from their credit/debit cards, paypal and bitpay and the cheque can be cashed online and at authorized Riovic™ finance facilities. They want to enable family members, friends and business partners to send and receive money globally in real-time without any hassle. The only information needed to send a cheque/check is the names and email addresses of the sender and the receiver. Every vendor with an email address will be able to receive payments from credit/debit cards, paypal and bitcoin improving and revolutionizing their business.

The company will provide a service called Riovic TranXact. TranXact facilitates financial transactions and transfers through a cheque/check generating system allowing recipients to receive money in real-time and the service is available globally. Users can save money on the company's cloud-based banking facility in their accounts which is linked to their Riovic bank card. These funds can be used in shops globally, online or can be withrawn at ATMs. The company also has an e-commerce platform which facilitates online sales for virtual goods (e.g. music, ebooks) through a search engine experience. This platform also has a directory for music labels and publishers. The company does not charge any royalties for items sold on the platform but returns all revenue back to labels and publishers.

This new company is determined to break traditions and change the way people transfer money in the world.