WorldRemit has joined forces with Mexican neobanks albo and Klar facilitate remittance from over 50 countries across the world.
The partnership will allow albo and Klar customers in Mexico to receive remittances directly into their accounts.
WorldRemit, which is said to be the first money transfer company to partner with albo and Klar, is also the only company to offer remittance services in the country.
To avail the services, the neobanks’ customers will have to install the WorldRemit app or create a free account online to transfer money.
WorldRemit LATAM head Jorge Godinez said: “We are the first money transfer company to enable transfers to albo and Klar, which share our values of promoting financial inclusion through widening access to international payment services.
“This is another option for customers who prefer a cashless experience from beginning to end.”
The partnership between fintechs albo and Klar and WorldRemit is aimed at catering to the unbanked and underbanked people in Mexico.
The neobanks offer services such as fast account opening processes, utility bill payments, and no minimum balances, among others.
albo partnerships manager Fernando Torres said: “Partnering with WorldRemit will benefit our customers by providing them with more transfer options to support their families and friends.”
Klar strategic partnerships manager Rafael Sainz said: “We are delighted about the alliance with WorldRemit since it will allow our users in Klar to receive remittances from over 50 countries around the world.”
Last month, Airtel Africa also connected with WorldRemit to grow its money transfer business.