TransferMex empowers seasonal workers and employers by making it easy to get paid and send money to Mexico. By leveraging the Tern platform, TransferMex seized the opportunity to give both employers and Mexican migrant workers in the U.S. a solution that addressed prior issues while offering a unique value proposition to all parties involved.
The Story of TransferMex
TransferMex identified a problem impacting U.S. employers and the migrant worker community. With standard banking inaccessible, employers have to print checks which slows payroll.
Workers rely on costly check cashing and slow remittance services to get money and send it back home. In this model, no one is getting what they need, and everyone is paying more than they would like.
TransferMex has developed a solution to this problem through a partnership with Tern. They use the entire Tern platform stack to issue virtual and physical cards, KYB employers, KYC employees, and move funds cross-border.