Félix, a financial service provider, has deepened its collaboration with Mastercard to streamline the process of sending money from the United States to several Latin American countries. This partnership centers on leveraging Mastercard Move, which will facilitate transfers initiated via Félix’s WhatsApp-based platform. Users can start by interacting with Félix’s chatbot through WhatsApp, either by typing or using voice messages.

Once the payment is funded through a debit card, Mastercard Move will process it to ensure faster settlement and enhanced transparency in the transaction flow. According to Félix representatives, recipients can anticipate receiving funds promptly, sometimes within minutes, which they believe helps alleviate the anxiety for families waiting for financial support.

Simplified Cross-border Transfers via WhatsApp

This joint effort is designed to tackle persistent challenges in the remittance industry, such as delays, inconsistent fees, and fragmented infrastructure. By aligning their technological solutions with Mastercard’s network, Félix aims to make the transfer journey smoother for both senders and recipients by reducing the number of steps typically involved.

Mastercard representatives highlighted that merging the scale of Mastercard Move with Félix’s WhatsApp presence could provide greater predictability for those who rely on frequent transfers. They also mentioned that this partnership is meant to offer clearer insights into how funds are moving and includes built-in safeguards within the payment channels.

As of now, Félix serves over half a million users across El Salvador, Honduras, Guatemala, and the Dominican Republic. Founded in 2021, it also facilitates transfers from the US to Mexico and plans to expand its services further throughout Latin America. The company incorporates automated decisioning tools and elements of blockchain technology into its service to offer a cost-effective and accessible option for communities heavily dependent on remittances.