Revolut achieves new milestone, unveils US-Mexico remittance corridor

By Pavithra R

Revolut, the financial superapp, has announced simplifying cross-border payments between the US and Mexico with the launch of its US-Mexico remittance corridor.

The launch comes at a time when cross-border peer-to-peer payments are reaching peak levels and enables Revolut customers in the US and Mexico to easily transfer money between one another without any hidden fees at the real exchange rate.

“At Revolut, we believe sending peer-to-peer payments cross-border should be simple. In the context of today’s environment, people need to lean on each other for support now more than ever, and we are committed to providing consumers with a simple way to send money to loved ones and communities, no matter where in the world they may be. We know what matters most to our customers, how to ensure the largest amount of their hard earned money being sent home makes it home. The launch of this remittance corridor is a major milestone for Revolut – one that we’re confident will improve the financial lives of customers in the US and in Mexico,” said Ron Oliveira, CEO of Revolut USA.

With Revolut, customers can spend and transfer money globally, as well as exchange 28 currencies in the app, enabling users to exchange money abroad without paying exorbitant fees. The firm designed its money transfer features with ease of use and transparency in mind. Customers can sign up for an account and make money transfers within minutes, and using Revolut’s bank transfer tracker, customers can conveniently check the status of their transfers directly within the app.

In 2015, Revolut launched in the UK offering money transfer and exchange. The firm is building the world’s first truly global financial superapp to help people get more from their money. Beyond improving cross-border payments between the US and Mexico, Revolut is exploring entry into new markets in Latin America, specifically Mexico and Brazil.