International Money Express (Intermex) has partnered with Visa to extend its money transfer services to more than 20 countries that it didn’t previously serve.
With this collaboration, Intermex customers will be able to make fast transfers to eligible Visa cards and bank accounts in those countries, Intermex said in a Tuesday (Dec. 19) press release.
“This collaboration between Intermex and Visa will help expand our digital offering and unlock more choices and flexibility for migrant workers in the U.S. sending funds to their loved ones abroad,” Marcelo Theodoro, chief product and digital officer at Intermex, said in the release.
Providing money transfer services to more countries made possible by Intermex’s expanded integration with Visa Direct, according to the release.
Visa Direct facilitates the delivery of funds to eligible cards,bank accounts and wallets worldwide, the release said.
With the expanded integration, Intermex’s omnichannel money transfer services will allow customers to send money to countries in Asia, Africa, Europe and the Caribbean, per the release.
“Our central focus is to deliver reliable, efficient, transparent and convenient services to our customers worldwide through our omnichannel strategy,” Theodoro said in the release.
Visa has found that 53% of remittance senders and receivers are using digital apps to send and receive money around the world.
In comparison, 34% of these consumers go to a physical bank or branch; 12% send cash, check or money orders by mail; and 11% give money to another person who is traveling to their home country, according to Visa.
“This new research shows incredible acceleration of digital payments, but there is still more the industry can do to bring streamlined remittances within reach for more migrant workers and their families who rely on these lifeline payments to do everything from pay for food, education or even unforeseen medical costs,” Ruben Salazar, global head of Visa Direct, said when reporting these figures in March.
In another recently announced partnership, Visa Direct and RevoluPAY said on Dec. 12 that they have teamed up to offer peer-to-peer (P2P) payments via RevoluPAY’s RevoluSEND.
This solution is operational in the European Economic Area via Visa’s global network and RevoluPAY’s technology and license.
Source: pymnts