4 FinTech money transfer companies in the USA

By Edlyn Cardoza

Cross border payments have become an essential aspect of payments. Over time, payments digitally transformed to make cross border payments easy for customers and B2B firms.

Around the same time, several first-generation FinTech firms made efforts to overcome the challenge of conveniently and economically moving money around the world. Some FinTechs have also morphed into B2B firms as they partner with financial institutions to power their money movement.

FinTech money transfer companies are focusing on enhancing digital navigation to produce a more straightforward user experience for customers. Using FinTech money transfer companies to send money internationally is usually the most cost-effective method. These companies often charge a low transfer fee than banks while maintaining security and dependability.

Below are 4 FinTech money transfer companies in the USA:

• MoneyGram International

MoneyGram is a global leader in cross-border P2P payments and money transfers. Consumers can send money internationally to friends and family, pay bills, and more with affordable fees and great exchange rates. Its consumer-centric capabilities enable family and friends to send money quickly and affordably in more than 200 countries and territories, with more than 75 countries now digitally enabled.

MoneyGram leverages its modern, mobile, and API-driven platform and collaborates with the world’s leading brands to serve millions of people each year through its walk-in and direct-to-consumer digital businesses. With a strong culture of innovation and a relentless focus on utilising technology to deliver the world’s best customer experience, MoneyGram is leading the evolution of digital P2P payments.

• Payoneer

Payoneer is the world’s go-to partner for digital commerce everywhere. From borderless payments to boundless growth, Payoneer promises any business, in any market, the technology, connections, and confidence to participate and flourish in the new global economy.

Since 2005, Payoneer has been imagining and engineering a genuinely global ecosystem so the entire world can realise its potential. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands like Airbnb, Amazon, Google, Upwork, and Walmart.

In today’s borderless digital world, Payoneer enables millions of businesses and professionals from more than 200 countries and territories to connect with each other and grow globally through our cross-border payments platform. With Payoneer’s fast, flexible, secure and low-cost solutions, marketplaces, networks, businesses and professionals throughout the world can pay and get paid globally, as easily as they do locally.

• Ria Money Transfer

Ria Money Transfer, a business segment of Euronet Worldwide, Inc., delivers innovative financial services including fast, secure, and affordable global money transfers to millions of customers along with currency exchange, mobile top-up, bill payment and check cashing services, offering a reliable omnichannel experience. The company is steadfast in its commitment to serve its customers and the communities in which they live, opening ways for a better everyday life.

Founded in 1987, the company has grown from a single storefront in New York City, to become one of the largest money transfer companies worldwide, with more than 490,000 locations and presence in 160+ countries around the world.

• Xoom

Xoom, a PayPal Service is a leading digital money transfer provider that enables consumers to send money, pay international bills, or reload phones for family and friends around the world. They offer a superior way to transfer money in a secure, fast, and cost-effective manner.

Their mission is to deliver the fastest, most transparent, and pro-consumer digital money services available across our mobile, tablet and computer platforms. With Xoom, consumers can send money to friends and family in countries across Africa, Asia, Europe, India, Latin America, the Middle East, and Australia. Xoom was founded in 2001, went public in February 2013, and on November 12, 2015, was acquired by PayPal Holdings, Inc.

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