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Wise enters Mexico to modernise traditional global money transfers

By Gloria Mathias

January 31, 2025

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Wise, Apple Pay, Google Pay, Malaysia, Fintech, Payments, iOS users, Android users, Apple Gadgets, DeepRocket, T2P, Fintech News, Fintech Thailand, Fintech APAC, Fintech solutions, Philippines, InstaPay, Payments Solutions, Bangko Sentral ng Pilipinas, Morgan Stanley, FinTech Solutions, Foreign Exchange, Mexico, Latin America,Wise, a global technology company, has announced its official entry into the Mexican market. The new service, designed for Mexican nationals who need to send money abroad, enables transparent, fast, and seamless international money transfers.

Wise’s launch in Mexico is part of the company’s goal of improving cross-border payments and providing financial services to consumers.

Now, Mexican nationals can easily and quickly send money from Mexico to over 40 currencies and 160 countries using Wise’s fully digital app or website, which is accessible in one place. This includes the ability to send money from MXN to USD, a vital offering that hugely benefits Mexican nationals with connections to the United States.

Providing the option to send money from MXN to USD opens up an essential two-way currency route that allows Mexican nationals to move funds to the US. Sending USD to MXN is currently the third largest corridor for US customers at Wise, and the volume of transfers on this route has doubled in the last two years. With the potential for further growth, Mexico offers a unique opportunity to serve a large and growing region within Wise’s Americas operations.

Harsh Sinha, Chief Technology Officer at Wise, said, “Launching our services in Mexico is a continuation of our strong, consistent growth in North and Latin America. Mexico, a region where consumers are loaded with unjust hidden fees, presents a strategic opportunity for Wise. It helps further our mission and opens a key currency route to bolster our business. Offering our services will have a positive impact on Mexican nationals by offering a transparent, cost-effective, and fast option to send money internationally. Importantly, this takes us one step closer to solving the problems of opaque, slow, and expensive international money movement.”

Efrain Florencia, Wise’s Country Manager in Mexico, stated, “Our mission is to make financial services fair, accessible, and transparent for everyone. Launching in Mexico allows Wise to disrupt a traditional remittance market by introducing radical price transparency, completely redefining how Mexicans send money abroad.”

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