Pangea Money Transfer, a mobile-centric remittance platform for sending money from the U.S. to 15 countries across Asia and Latin America, announced on Wednesday it has dropped its flat-rate money transfer fee for senders to India by more than 20% from $4.99 down to $3.95. While Pangea is already a top-ranked service for new senders, including bank deposits within minutes, low flat fees and some of the best exchange rates in the industry, this update is expected to further solidify loyalty to the platform.
While sharing details about the reduction, CEO of Pangea Money Transfer, Nishu Thukral, stated:
“At Pangea, we’re constantly looking for ways to provide our loyal customers and their families with a better money transfer experience. Recently, we innovated our product to allow deposits to any bank account in India within minutes. Within a few days of that, we heard from a grateful customer who had to remit funds instantly to help pay for a medical emergency, and it was possible because of Pangea. With the recent pricing update, our customers will be able to access more affordable transfers while maintaining the speed of delivery.”
Founded in 2012, Pangea Money Transfer stated it was started with a mission of giving everyone the power to move money effortlessly, starting. The company noted it’s been striving to enhance the security and reduce of cost of money transfer. Its mobile app allows users to complete a transfer in less than 30 seconds and pay with any U.S. debit card or cash at 7-Eleven stores. The company also reported that receivers in Mexico, Colombia, Guatemala, El Salvador, and Dominican Republic may collect the money at over 14,000 locations, or directly into any debit card or bank account.