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The future of remittances in Latin America: Digitalization, multiple rails, and the strategic role of partnerships

By
Mastecard International
Mar 23, 2024
•
5 min read

Table of contents

The traditional remittance model is outdated and inefficient, burdening consumers with excessive fees and long processing times for sending money abroad. At the heart of our corporate ethos is a commitment to addressing this issue. We believe the future of international money transfers lies in Embedded Remittances, and we're at the forefront of making this innovative solution a reality.

We're excited to announce our feature in a recent report by Mastercard, highlighting our efforts in revolutionizing the remittance sector. In collaboration with Mastercard, we're empowering retailers, fintech companies, local banks, government entities, and telecommunications companies to tap into the vast potential of the $155 billion remittance market. Our partnership aims to digitalize remittances, substantially reduce costs, and significantly improve financial inclusion across the globe.

Read more about our journey and the transformative potential of Embedded Remittances in the Mastercard report here.

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