Pangea Money Transfer, a remittance app built for the mobile user, has expanded its service into Honduras. With this addition, Pangea’s application is now available in six Latin American countries, including Mexico, Colombia, Guatemala, El Salvador and the Dominican Republic.
After raising a new round in December 2016, the company has embarked on a rapid expansion process with plans to be available in 16 more countries across three different continents by Q3 2017.
The Pangea app makes it easier for users from the U.S. to quickly and securely send money to friends and family in a few simple steps. The app features an intuitive set-up process that takes only a few seconds, a smooth user interface and a low, transparent fee structure. Registered senders can just login and repeat past transfers in only one click. Within minutes, recipients can get their money in cash at thousands of pickup locations, or have it deposited directly into a bank account or onto a debit card.
“Pangea was created, first and foremost, around the idea that time is money,” said CEO Nishu Thukral. “It was built with simplicity and mobility in mind, so you never have to wait in line or fill out a form ever again when sending money to your loved ones. We’re so happy to now offer our product to more Latin American senders in the U.S., and we hope to soon serve other immigrant populations with the same standards around ease of use.”
According to the Migration Policy Institute, 85 percent of Central Americans in the U.S. come from Guatemala, El Salvador and Honduras, and they represent the fastest-growing Latino immigrant population. In 2016, more than $15 billion in remittances was sent from the U.S. to Central America via formal channels, for more than 50 percent growth in less than five years.
The Pangea Money Transfer app is available for free on iOS and Android, or you can try it out online at GoPangea.com. To inquire about becoming a Pangea partner, click here.