You might be surprised to learn that the first money transfers were not done through banks, apps, or telegraphs, but through trust and word. This all began back in the 8th century, when humanity still traveled by horse and even paper money didn’t exist.
It was during this period that a system called Hawala emerged – simple yet brilliant in concept:A person in one country would give money to an agent and ask them to deliver the same amount to their friend or family member in another country.
The money itself didn’t actually move – the agents simply trusted each other and settled their balances later.
And that’s how the history of international transfers began.
There were no banks, no apps, but there was one core value: trust. And that trust was so strong that the Hawala system functioned for centuries, from India to North Africa.
When Words Were Contracts
Hawala agents didn’t store money in safes or sign papers, their contract was their word and integrity.
Today, that might sound strange, but at the time, it was enough – money could freely move from person to person, without any banking system.
Simply put, Hawala was the first “fintech” – one that didn’t need Wi-Fi.
What Changed Almost 1300 Years Later?
Since the 8th-century Hawala, humanity has gone through many stages: telegraphs, money transfers with high fees, long queues and cash-out issues. Eventually, we reached the point where sending money or performing card and bank transfers can be done with just a few taps in the InexPay app – right from home.
You simply open the app, go through a quick registration and authorization and send international remittances via the InteliExpress system to 50+ countries or make bank and card transfers across Europe and Asia, with the best fees and conversion rates.
From Word to License – The Evolution of Trust
In the 8th century, trust meant a personal word. Today, trust means regulation, transparency and security standards that protect every user transaction.
The word-based contract has been replaced by a license, but the idea remains the same – reliability.
If once people handed money to an agent hoping they would keep their word, today that trust is regulated by the National Bank of Georgia, under whose supervision InexPay operates (payment service provider, license №0088-2904).
This means every transfer is protected by law, your funds are kept in special nominal accounts in a bank, and the system fully complies with international financial standards.
