admin In a strategic collaboration, International Money Express (Intermex) has joined forces with Visa to broaden its money transfer services to over 20 countries, significantly expanding its global reach. The partnership enables Intermex customers to execute swift transfers to eligible Visa cards and bank accounts in countries that were previously outside of their service purview.
Enhanced Digital Offering for Migrant Workers
Marcelo Theodoro, Chief Product and Digital Officer at Intermex, conveyed his excitement regarding the partnership, highlighting the opportunity it presents to elevate their digital services. He underscored the significance of this collaboration in expanding the array of options and flexibility available to migrant workers based in the U.S. who are sending financial support to their families overseas. The integration leverages Visa Direct, facilitating the secure and efficient delivery of funds to eligible cards, bank accounts, and wallets globally.
Expanded Integration Unlocks Global Access
The expanded integration with Visa Direct empowers Intermex’s omnichannel money transfer services, enabling customers to send money to countries across Asia, Africa, Europe, and the Caribbean. Theodoro reiterated their commitment to delivering reliable, efficient, transparent, and convenient services worldwide through their omnichannel strategy.
Visa’s Research on Digital Payments
Visa, a key player in the digital payments landscape, has identified a significant trend toward digital remittances. According to their research, 53% of remittance senders and receivers are utilising digital apps for cross-border money transfers. This contrasts with 34% who prefer physical bank visits, 12% opting for traditional methods like cash or money orders by mail, and 11% relying on individuals travelling to their home countries.
Ruben Salazar, Global Head of Visa Direct, highlighted the rapid acceleration of digital payments. Despite this growth, Salazar emphasised the industry’s potential to further streamline remittances for migrant workers and their families, addressing essential needs such as food, education, and unforeseen medical costs.
In a related development, Visa Direct, in collaboration with RevoluPAY, announced on December 12th, 2023 that RevoluPAY’s RevoluSEND would now allow P2P payments. This solution, currently serviceable in the European Economic Area, leverages Visa’s global network and RevoluPAY’s technology and licence, further contributing to the evolution of seamless and accessible payment solutions on a global scale.
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