NEW YORK, July 29, 2021 / PRNewswire / – Revolut, the financial super app with 16 million customers worldwide, today announced its simplification of cross-border payments between the USA and the. famous Mexico with the introduction of the US-Mexico remittance corridor. With this introduction, Revolut customers in the US and Mexico can now transfer money to one another without any hidden fees and at the real exchange rate.
In May 2021, Transfer flows between Mexico and the US has increased a whopping 31%to reach over $ 4.5 billion As migrants continue to send money to loved ones to help alleviate the effects of the pandemic. The timely introduction of this remittance corridor by Revolut will enable customers to easily make cross-border payments between the US and Mexico at a time when peer-to-peer cross-border payments are peaking.
With Revolut, customers worldwide can spend and transfer money as well as exchange 28 currencies in the app, so that users can change money abroad without paying the exorbitant fees – which can reach up to 11% – Collected by most of the major money transfer providers.
Revolut has designed its money transfer features with ease of use and transparency in mind to give its customers full visibility into where and when their money is going. Customers can sign up for an account in minutes and make money transfers shortly afterwards. With Revolut’s bank transfer tracker, customers can conveniently check the status of their transfers directly in the app.
About improving cross-border payments between the US and Mexico, Revolut is considering entering new markets in Latin America, special Mexico and Brazil. Although the company is still in the early stages of its expansion, the company has a Head of Operations in Brazil, and continues to evaluate new talent to help expand its team and offer across the region.
Ron Oliveira, CEO of Revolut USAsaid:
“At Revolut, we believe that sending peer-to-peer payments across borders should be easy. In today’s environment, more than ever, people need to rely on each other for support in an easy way to send money to loved ones and communities, no matter where in the world they are. We know what matters most to our customers, how we can ensure that most of their hard-earned money is sent home.This remittance corridor is a major milestone for Revolut – one that we are confident will have the financial life of the company Customers in the US and in Mexico. “
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ABOUT REVOLUT – one app, everything about money
Revolut is building the world’s first truly global finance super app to help people get more with their money. In 2015, Revolut started offering money transfers and exchanges in the UK. Today, more than 16 million customers around the world use dozens of Revolut’s innovative products to conduct more than 150 million transactions per month. Across our personal and business accounts, we help our customers improve their financial health, give them more control, and seamlessly connect people around the world.
Banking services are provided by the Metropolitan Commercial Bank, a member of the FDIC.
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Communication manager, Revolut
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