Alviere , a provider of Embedded Finance solutions, has introduced a new feature enabling its enterprise clients to offer cash-to-cash cross-border remittance services. This addition allows customers to send cash from the United States for pickup in over 100 countries.

The service supports cash transactions alongside existing options such as bank transfers, cards, and digital wallets. It is particularly aimed at facilitating remittances to regions like Mexico, Colombia, and other parts of Latin America, where recipients often rely on cash due to limited access to banking services. According to Mastercard, more than half of global remittances are directed to unbanked or underbanked individuals who require cash payout options.

In 2022, remittance flows to low- and middle-income countries totalled USD 656 billion, according to the World Bank. These trends highlight the growing demand for cash-based solutions. Alviere's platform allows US-based remittance senders to load cash into wallets at thousands of locations nationwide or use kiosk-based solutions for cash funding.

Recipients in supported countries can pick up their funds in cash at designated locations, meeting the needs of cash-dependent communities. This approach also enables businesses, such as retailers, to incorporate remittance services into their stores or apps, enhancing customer engagement and foot traffic. Streamlined integration for enterprises Alviere provides businesses with a turnkey solution for integrating remittance capabilities through its HIVE platform.

This approach eliminates the need for enterprises to partner with multiple service providers or vendors to implement financial features. The platform also handles regulatory compliance, including Know Your Customer (KYC) processes, under Alviere's status as a licenced Money Services Business (MSB) in the United States and Puerto Rico. Alviere officials emphasised the importance of cash in the remittance process and explained that cash remains a vital part of the financial ecosystem for both senders and recipients.

They also added that the company’s cash-to-cash service offers enterprises an opportunity to strengthen their connections with customers. For more information about Alviere, please check out their detailed profile in our dedicated, industry-specific Company Database. Source: Link .