PMI and Bitso Business Create Strategic Alliance to Revolutionize Remittances in the US-Mexico Corridor

PMI —a leading provider of cross-border payment solutions— announced an innovative collaboration with Bitso Business —Bitso’s B2B unit that provides the infrastructure for the future of cross-border payments— to present a new alternative for those operating money transfers in the United States and seeking competitive, timely, and secure peer-to-peer (P2P) payment solutions from the US to Mexico, as well as business-to-business (B2B) payments in Latin America.

This strategic alliance combines PMI’s extensive experience in cross-border payments with Bitso Business’ cutting-edge technology and deep market penetration in the region. Both entities are poised to jointly revolutionize the traditional money transfer landscape between the United States and Mexico, offering unprecedented convenience, speed, and reliability to their users.

By integrating Bitso Business’ robust blockchain- based payments infrastructure with PMI’s suite of payment solutions, US money transfer operators will have access to an efficient and seamless channel to facilitate P2P payments to Mexico. This collaboration will also streamline transfer processes, eliminating unnecessary intermediaries and reducing transaction costs, benefiting both senders and recipients.

In June alone, $6.213 billion dollars entered the country, according to the Bank of Mexico , the highest monthly flow of remittances on record. Additionally, in April of this year, Bitso Business reached a milestone by managing more than 10% of the total volume of remittances from the Mexico-US corridor, so this alliance has the potential to benefit a considerable number of Mexicans who send and receive remittances.

Some of the key features of the collaboration are:

1. Competitive Rates: By leveraging Bitso Business’ advanced infrastructure, PMI is able to offer highly competitive exchange rates, ensuring maximum value for every transfer.
2. Timely Transactions: The partnership enables fast, timely and seamless transactions, significantly reducing the time required to send funds from the US to Mexico.
3. Enhanced Security: Built on robust encryption protocols and compliance measures, the integrated platform prioritizes the security and confidentiality of users’ financial transactions.
4. Seamless Integration: PMI’s user-friendly interface seamlessly integrates with the Bitso platform, simplifying the transfer process for both traders and end-users.
5. Support and Care: A qualified support team will be available to assist users throughout the transfer process, providing guidance and resolving any queries quickly.

Alex Pereira, CEO of PMI, expressed his excitement about the partnership’s potential to revolutionize cross-border payments, saying: “We are delighted to join forces with Bitso Business to introduce an innovative solution for US-based money transfer operators. With this collaboration, we reaffirm our commitment to providing a superior P2P payment experience that is cost-effective and reliable.”

Likewise, Thales Freitas, Global Head of Bitso Business, emphasized the shared vision and synergy driving this partnership, stating: “At Bitso Business, we are excited to collaborate with PMI to redefine the landscape of money transfers between the US and Mexico. By leveraging our collective experience and resources, we aim to set a new standard of efficiency and accessibility in cross-border payments.”

This strategic partnership between PMI and Bitso Business represents a significant milestone in the evolution of cross-border payment solutions, marking a transformative shift towards a more inclusive, efficient and secure financial ecosystem.