PRINCETON, N.J.--(BUSINESS WIRE)--Providing innovative technologies for the remittance market is one of the most exciting opportunities of the financial sector. Money sending businesses are always looking for new ways to improve the user experience and reduce hassles related to sending and receiving money. While most efforts focus on the senders, new solutions are being made available with a positive impact on the receiving side.
Poni and DINEX, leading companies in the development of financial technology solutions; understand this need and opportunity and have thus formed an alliance to offer receivers in Mexico a zero-fee ATM remittance payout solution. Receivers can now simply purchase and register a Poni Cash Card, enabling them to pick up their cash anytime, anywhere in over 50,000 ATMs throughout Mexico. DINEX offers this exclusive technology to its clients where their family members can have this benefit.
Patricio Valdés, CEO and Founder of DINEX, said: “For over 10 years we have been regional leaders in money transfers and other financial services for the Hispanic community in the U.S. sending transactions to Mexico, Centro and South America and the Philippines. Our fast, reliable, secure and convenient ways to send money to our customers’ loved ones back home, allows us to consistently provide innovative payment solutions, especially for the 19.3% of the unbanked population according to the 2017 National Survey of Unbanked and Underbanked Households (FDIC).”
“Our partnership with Poni incorporates their zero-fee remittance payment technology for receivers; a solution that significantly improves our customers’ and their families’ experience, while maintaining our traditional and familiar channels for sending money. The only difference now is that the sender can request that the money be paid out at any ATM in Mexico,” emphasized Valdés.
Gricha Raether Palma, Country Manager of Poni Mexico, said: “We are proud to offer an innovation that is revolutionizing the industry. Poni empowers receivers to decide when and where they receive their money, given the large number and availability of ATMs in Mexico, eliminating ATMs fees and without the need for a traditional bank account. By using our technology, DINEX clients and their families can easily withdraw their cash by using a Poni Cash Card, which they can purchase for only $10 Mexican pesos in more than 6,000 retail locations throughout Mexico. Locations include Comex, Circle K, Super Q, Milano, and many others. The card works like a key that ‘turns on’ any ATM in Mexico.”
Poni zero-fee ATM payout is leading the future of international remittances and reinforces the company’s social commitment by offering the most vulnerable sectors of society more flexible and safe access to their money, eliminating many of the challenges they face when receiving their money in traditional locations.
Poni is financial technology that enables receivers in Mexico to get their money from United States remittances any time, at any ATM in the receiving country, without the need for a traditional bank account and without paying any ATM fees. Poni is a product of American Cash Exchange, Inc., a privately-held company located in Princeton, New Jersey. The company offers personal payment solutions for the international marketplace.
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The Poni Debit Card is associated with a low-risk depository account, issued by Ictineo Plataforma, S.A. of C.V. S.F.P. Poni does not raise funds from the public and does not perform money transmission activities. The sending of remittances is done through a money transmitter duly registered with the CNBV.
DINEX is a Houston based regional leader in Hispanic money transfers founded in 2004. The company is regionally recognized in providing its clients with fast, reliable, secure and convenient ways to send money to the Spanish speaking countries of Latin America. DINEX is a licensed MSB company in 26 states in the U.S. and has presence in Alabama, Arkansas, Arizona, California, Colorado, Florida, Idaho, Illinois, Indiana, Georgia, Kansas, Louisiana, Maryland, Mississippi, Nevada, New Mexico, New Jersey, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia and Washington.
DINEX services are available through a network of over 800 authorized agent locations throughout the USA with a payer network in more than 17 Latin American countries to over 500 private and financial institutions in over 50,000 payout locations in Mexico, Central, South America and the Philippines.
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