Pangea Enables US to Mexico Mobile Money Transfers Via Debit Card Mobile Payments Today
go to original December 20, 2015

Send money with Pangea and save up to 75% in fees (Pangea Money Transfer )

Pangea, an international funds transfer platform, has introduced a new debit-to-debit transfer product that lets users send funds through a mobile app using only debit card numbers, not bank account details. The company said in a press release its system will be available initially for U.S. to Mexico transfers. Consumers can now download the app, Pangea Money Transfer, and complete a transfer for a fixed fee of $3.95.

"At Pangea, we're empowering a large group of people who have not benefited from other innovations in the financial world," said Rahier Rahman, Pangea founder and CEO. "We've created a payment platform that allows people in the U.S. to send money to Mexico without having to ask for or provide any bank account details while maintaining bank-level security for transactions. We are transforming an industry that has previously relied on the antiquated agent model to deliver fast and low-cost financial services."

Pangea claims that the direct debit-to-debit product is the first to provide a way to transfer funds to Mexico in real time using the 16-digit primary account number on a debit card, rather than bank details. Pangea said its money transmitter license in Mexico and connectivity to the Central Bank payment system enable the company to bypass intermediaries and provide faster, more secure and cheaper transfers.

Read the rest at Mobile Payments Today

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