TeleGiro Partners with Paisamex to Offer Remittances from the US to Mexico
Miami, Nov 27, 2023
TeleGiro is excited to announce its partnership with Paisamex, a leading remittance facilitator, to provide remittance services from the US to Mexico. This collaboration will enable TeleGiro to expand its reach and offer fast, secure, and cost-effective remittance solutions to its US-based clients.
With Paisamex’s extensive network in Mexico, encompassing 2,500 agencies located in communities throughout the country, including the most remote areas, TeleGiro can ensure the seamless payout of remittances to even the most remote towns to expand its efforts to build the foundation for financial inclusion for the Hispanic immigrants in the U.S.
Remittances from the U.S. to Mexico have been steadily increasing, reaching a record $55.9 billion in 2022. TeleGiro and Paisamex aim to capitalize on this growing market by offering low transaction fees and efficient services. The average transfer time for remittances sent through this partnership is just one day, ensuring that funds reach their intended recipients quickly.
Looking ahead, the remittance market between the US and Mexico is projected to grow by 1% in 2023. Despite slower growth in host countries impacting incomes and employment prospects, the demand for remittance services remains strong. TeleGiro and Paisamex are well-positioned to meet this demand and continue providing reliable and affordable remittance solutions.
About TeleGiro. TG focuses on fostering financial inclusion and education within the Hispanic community in the USA, providing seamless onboarding, international cross-border payments, and remittances to over 17 LATAM countries. The company empowers individuals by simplifying the process of sending funds home and assisting in building credit through cutting-edge credit products.
About Paisamex.Paisamex is a Mexican fintech with an extensive payout network inside all Mexican territories including the most remote areas. Paisamex specializes in making remittance payments from the United States and other regions, making them reach Mexicans quickly and efficiently through its digital channels, its network of agents, or the banking financial system.
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