Finally! Remittance Innovation for Money Receivers

13 Jun 2019, 12:04 PM CDT

After decades of innovation benefiting money senders, Poni brings a
revolutionary innovation to benefit money receivers: Zero-fee payout of
international remittances at ANY ATM in Mexico.

PRINCETON, N.J.–(BUSINESS WIRE)–#Fintech–Money sending businesses have existed for more than 150 years, but until
recently have changed little. In the last 20 years, leveraging the
ubiquity and accessibility of the Internet and smartphones, advances
have been made for family members who send money: more sending locations
and agents, automation, even independence from agents and self-service –
all for the benefit of the senders.

Today, a revolutionary advance is available to receivers of
international remittances — they can now receive their money at ANY ATM
in Mexico, using a Poni Cash Card. This new payout option expands the
number of locations where beneficiaries of remittances can get their
cash, making the process more convenient by letting recipients decide
where and when they cash out their money.

Poni’s new service will impact and benefit millions of families whose
lives depend on remittances. According to Mexico’s National Bank, a
record-breaking USD $33 billion in remittances were received from the
USA in 2018, a 10% increase over 2017. Poni improves and streamlines the
experience on the money-receiving side, especially in Mexico where 56%
of the population is unbanked, affording them immediate access to their
money at ANY ATM.

A Poni Cash Card works as the key to unlock the ATM network, so that all
of the approximately 50,000 ATMs in Mexico can now pay out remittances
without charging a fee to the receiver. All the receiver has to do is
acquire the cash card for $10 pesos at one of over 6,000 locations in
Mexico, and call a toll-free number to register the card. Once
registered, the same card is used to receive any number of remittances,
from any participating money-sending businesses.

Gricha Raether, Director of Poni in Mexico, said: “We are
launching an exciting new payout option that will change the way family
members in Mexico receive their money. No more lines. No more excuses
about having run out of money. No more going out of your way to get your
money during business hours. Poni is the only technology capable of
opening more than 50,000 ATMs in Mexico for remittance payout. This
gives beneficiaries the convenience of picking up their cash when and
where they need it.”

Our partnerships with the leading U.S. money transmitters enables this
revolutionary service. They can offer their clients cash payout at any
ATM as a new option, providing a significant benefit for their loved
ones. Companies like Barri, Dinex, and Ria have found Poni an important
partner to further improve their customers’ experience and offer the
only instant payout solution that works on any ATM.

An ambassador for the company, sports announcer Enrique “El Perro”
Bermúdez, had this to say about the launch: “I’ve been to many world
cups. I’ve seen great teams win many games and shoot the ball to the
back of the net in the most artistic ways. However, I’ve never witnessed
a score for money senders and receivers quite like Poni. Thanks to my
job, I work very closely with the Mexican community in both Mexico and
the United States. I am convinced that Poni will make a great difference
in the lives of Mexicans living in the US and their family members in
Mexico who rely on remittances for their daily needs, by giving them the
power to decide when and where they receive their money.”

About Poni

Poni represents innovation in financial services technology that enables
receivers in Mexico to get their money from United States remittances
any time, at any ATM in the receiving country, without the need for a
traditional bank account and without paying any ATM fees. Poni is a
service offered by American Cash Exchange, Inc., a privately-held
company located in Princeton, New Jersey. The company offers personal
payment solutions for the international marketplace.

For more information please visit: www.poni.mx

Facebook: /PoniMx

Press kit: http://bit.ly/2KurnBl

The Poni Debit Card is associated with a low-risk depository account,
issued by Ictineo Plataforma, S.A. of C.V. S.F.P. Poni does not raise
funds from the public and does not perform money transmission
activities. The sending of remittances is done through a money
transmitter duly registered with the CNBV.