4 FinTech money transfer companies in the US

By Edlyn Cardoza

Cross-border payments have become an important part of payments. Over time, payments were digitally transformed to make cross-border payments easy for customers and B2B firms.

Around the same time, several first-generation FinTech firms attempted to overcome the challenge of easily and economically moving money around the world. Some FinTechs have also transformed into B2B firms as they partner with financial institutions to drive their money movement.

FinTech money transfer companies are focusing on improving digital navigation to produce a more seamless user experience for customers. Using FinTech money transfer companies to send money internationally is usually the most cost-effective method. These companies often charge a lower transfer fee than banks, while maintaining security and reliability.

Below are 4 FinTech money transfer companies in the US:

MoneyGram is a global leader in P2P payments and cross-border money transfers. Consumers can send money internationally to friends and family, pay bills and more with reasonable fees and good exchange rates. Its consumer-centric capabilities enable family and friends to send money quickly and affordably in more than 200 countries and territories, with more than 75 countries digitally enabled.

Leveraging its modern, mobile and API-powered platform, MoneyGram partners with the world’s leading brands to serve millions of people each year through its walk-in and direct-to-consumer digital businesses. With a strong culture of innovation and a relentless focus on using technology to deliver the world’s best customer experience, MoneyGram is leading the evolution of digital P2P payments.

Payoneer is the world’s best partner for digital commerce everywhere. From limitless payments to limitless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and thrive in the new global economy.

Since 2005, Payoneer has envisioned and developed a genuinely global ecosystem so that the whole world can realize its potential. Powering growth for clients ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands such as Airbnb, Amazon, Google, Upwork and Walmart.

In today’s borderless digital world, Payoneer enables millions of businesses and professionals from more than 200 countries and territories to connect and grow globally through our cross-border payments platform. With Payoneer’s fast, flexible, secure and affordable solutions, marketplaces, networks, businesses and professionals worldwide can pay and get paid globally as easily as they do locally.

Ria Money Transfer, a business segment of Euronet Worldwide, Inc., provides innovative financial services including fast, secure and affordable global money transfers to millions of customers along with currency exchange, mobile top-up, bill payment and check cashing services, offering a reliable omnichannel experience. The company is steadfast in its commitment to serving its customers and the local communities in which they live, and opens ways for a better everyday life.

Founded in 1987, the company has grown from a single store in New York City to become one of the largest money transfer companies worldwide, with more than 490,000 locations and a presence in over 160 countries around the world.

Xoom, a PayPal service is a leading digital money transfer provider that enables consumers to send money, pay international bills or reload phones for family and friends around the world. They offer a superior way to transfer money in a secure, fast and cost-effective manner.

Their mission is to deliver the fastest, most transparent and consumer-friendly digital money services available across our mobile, tablet and desktop platforms. With Xoom, consumers can send money to friends and family in countries across Africa, Asia, Europe, India, Latin America, the Middle East and Australia. Xoom was founded in 2001, went public in February 2013, and on November 12, 2015 was acquired by PayPal Holdings, Inc.

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