Convert

Convert is a currency conversion feature within the WorldFirst Mass Payout solution that enables businesses to seamlessly exchange funds between currencies before initiating bulk international payments.
When you need to pay suppliers, contractors, or partners in multiple countries, you often face the challenge of managing different currencies. Convert solves this by allowing you to:
  • Exchange funds from one currency to another at competitive rates
  • Lock in exchange rates in advance to protect against market fluctuations
  • Execute conversions instantly or schedule them for future dates
  • Integrate conversion with payout — convert and pay in a single seamless workflow
With Convert, you can hold balances in multiple currencies within your World Account, convert between them when rates are favorable, and then disburse payments to recipients in their local currencies — all from one central platform.

Key Benefits

Workflow

Mass Payout with Convert follows a straightforward four-step process:

Step 1: Onboard and Fund Your Account

Sign up and complete verification (typically within 24 hours). Fund your multi-currency World Account via bank transfer, marketplace collections, or other supported methods.

Step 2: Convert Your Currency

Use the Convert feature to exchange funds into the currencies you need for your payouts. You can:
  • Execute a spot conversion at the current market rate (settlement within 2 business days)
  • Book a forward contract to lock in a rate for future payouts (settlement beyond 2 business days)

Step 3: Prepare Your Batch Payment

Upload a CSV file containing all payment instructions — recipient name, bank details, currency, and amount. The platform supports up to 200 payments in a single upload.

Step 4: Approve and Track

Review the batch summary, confirm via two-factor authentication (2FA), and submit. Track the status of every payment in real time through the dashboard. Recipients receive funds in their local currency through local payment rails wherever possible, ensuring faster settlement and lower costs.

API Integration

If you integrate with WorldFirst programmatically, you can use the WorldFirst FX (Foreign Exchange) APIs to perform spot FX — converting currencies immediately at the current exchange rate.

APIs to integrate

Integrate the following APIs to enable spot FX. The sequence of the APIs below also reflects the integration order:

Workflow

The following figure shows the spot FX process:
1137D6F6-FF62-4c2b-8788-329760B3625A.png
Figure 1. Workflow of spot FX

Procedure

Step 1: Obtain the FX quote

Call Create a Quote
API
 to get the FX quote from WorldFirst.

Step 2: Make the settlement

  1. Prefund the WorldFirst account to ensure a sufficient balance for currency exchanges. Receive the prefunding result from WorldFirst through webhooks.
  2. Call Create a Quote
    API
     to initiate the spot FX settlement.
  3. Call Query Rates
    API
     to check the settlement status.
  4. Receive the settlement details through webhooks.