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Alviere Expands Cash-to-Cash Embedded Remittance Capabilities for Enterprise Clients


News provided by

Alviere

Nov 19, 2024, 08:00 ET

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Cash pickup available in 100+ countries, plus money transmitter licenses (MTLs) enable cash-funding options throughout the United States

DENVER, Nov. 19, 2024 /PRNewswire/ -- Alviere, the leading embedded finance platform provider, announces that its enterprise clients can now offer cash-to-cash cross-border remittance capabilities to their end customers with cash pickup in 100+ countries. As a licensed money transmitter throughout the U.S., Alviere is uniquely positioned to offer compliant remittance solutions embedded into existing apps for seamless customer experience. Now, transactions can originate in cash in addition to bank transfer, card, and digital wallet options. Supporting remittance from the U.S. to Mexico, Colombia, and other countries in Latin America, beneficiaries can now pick up cash, a critical feature for cash-reliant and unbanked recipients.

According to Mastercard, over 50% of global remittances are paid to unbanked or underbanked individuals in need of a cash payout option. With remittance flows to low- and middle-income countries (LMICs) reaching $656 billion last year (World Bank), there's a distinct opportunity for companies to embed cash-to-cash remittance capabilities into their customer experiences. For example, retailers can offer global money transfers inside physical stores to increase foot traffic, or they can embed remittance capabilities into existing apps to drive customer engagement.

To meet this growing demand for frictionless and reliable remittances, Alviere enables remittance senders located in the United States to load cash to a wallet at tens of thousands of locations nationwide. For pass-through transactions, Alviere also supports kiosk-based solutions for cash-funded remittances. Recipients abroad can then access funds with expanded payout options including cash pickup available in more than 100 countries. Alviere saves companies, including cross-border transfer providers, from having to identify additional service providers, vendors, or partners to launch financial programs or features by integrating critical features like these into the Alviere HIVE platform.

"Cash plays a critical role in the lives of both remittance senders and recipients," says Pedro Silva, Alviere co-founder and CEO. "Leveraging our money transmitter licenses, we're proud to enable embedded, cash-to-cash remittances and facilitate a way for companies to create deeper relationships with their customers."

Alviere safeguards enterprise clients by managing the Know Your Customer (KYC) due diligence process and meeting regulatory requirements for money transfers as a Money Services Business (MSB) throughout the United States and Puerto Rico. The company can also enable brick & mortar retailers to launch tailored, in-store cash loading solutions backed by a team of experts ensuring strict adherence to compliance standards.

Pedro Silva is participating in a panel discussion titled "Cross-border Payments from CEO and Founder's Perspective" at CrossTech World 2024 in Miami, November 19-21.

About Alviere
The world's enterprises use Alviere to embed white-label financial products into new or existing customer experiences. With the Alviere HIVE financial technology platform and unparalleled program design and management, Alviere clients can offer financial products to drive customer engagement, generate new revenue streams, and improve existing financial flows. Alviere brings together technology and program support with the trust of a licensed financial institution to assure the safety, flexibility, and long-term viability for client programs. To find out how Alviere can enhance your core business, visit alviere.com.

SOURCE Alviere

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Alviere Powers Self-Service Remittance Kiosks, Enabling Unattended Cross-Border Cash Transfers

Alviere, the leading embedded finance platform powering global money movement, today announced the availability of self-service remittance kiosks — a ...

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