Pagos Intermex

Pagos Intermex S.A. de C.V. operates as a money transmitter in Mexico, specializing in the payment of family remittances. With over two decades of experience, the company has established a significant presence, particularly in remote areas with limited access to traditional financial services. Founded in 2008, Pagos Intermex is headquartered in Puebla, Mexico. A significant milestone in the company's history occurred in April 2015, when it was acquired by Compartamos Banco, a leader in the microfinance sector in Mexico. This acquisition was part of a strategy by Gentera, the holding company for Compartamos Banco, to enter the remittance market and enhance financial inclusion. Later, in June 2020, Gentera formalized the sale of Pagos Intermex to TransNetwork L.L.C. for a sum of $241.25 million pesos, a move intended to allow Gentera to focus on its core financial services.

The company's business model centers on facilitating the reception of money sent from abroad, primarily from the United States. It operates through a vast network of payment points across Mexico, which includes partnerships with commercial chains, credit unions, and a wide array of small and medium-sized businesses. This network is supplemented by the company's own branches. For its business clients, Pagos Intermex offers the integration of its remittance payment service as a way to increase customer traffic, diversify revenue streams, and optimize cash management. The company generates revenue through its alliances with leading international money transfer companies like RIA, Remitly, Xoom, and MoneyGram, among others. End-users, the remittance recipients, can collect their money by presenting an official ID and a reference number at any of the affiliated payment points.

Pagos Intermex provides a crucial service for families in Mexico by connecting them through the receipt of funds from relatives working in other countries. The platform is designed for ease of use, ensuring that transactions are both fast and secure. To receive funds, a customer needs to visit a payment point, provide the transaction reference number, the sender's full name, the expected amount, and a valid photo ID. The company is registered as a money transmitter with Mexico's National Banking and Securities Commission (CNBV), adhering to strict regulatory standards. In a recent development, as of April 2024, Pagos Intermex partnered with Félix Pago to enable money transfers via the WhatsApp chat platform, further simplifying the process for users.

Keywords: remittance payments, money transmitter Mexico, cross-border payments, financial inclusion, payment network, international money transfer, fintech, Compartamos Banco acquisition, TransNetwork LLC, remittance services for business, Puebla Mexico, family remittances, RIA partner, Remitly partner, Xoom partner, MoneyGram partner, CNBV regulated, payment points, cash pickup, financial services, Latin America remittances