Broxel eliminates fees for sending money from the United States to Mexico


The Mexican company of means of payment broxel, announced that it will eliminate the costs of sending money from the United States to Mexico, which are made through its platform. The firm detailed in a statement that the remittances sent will have zero cost, regardless of the amount.

Remittances are essential for the Mexican economy, according to Broxel, in 2021, 51,000 million dollars were sent from the United States to Mexico and 136 million operations were carried out. Company data indicate that the cost of the average remittance exceeds 5% of the transaction, whose average is 378 dollars.

“Making a remittance at zero cost available to our countrymen is an economic disruption that positively and directly impacts millions of workers in the United States, and their families in Mexico,” Gustavo A. Gutiérrez Galindo, President and Founder, said in a statement. of Broxel.

To have the benefit of shipments, those interested must register through broxel.com, request your card, which is sent to your home, and then activate it in the mobile application. For those who receive in Mexico, they must go through the same process to open an account.

“Our commitment is not to become a remittance company, but to continue to be a comprehensive and attractive solution as a means of payment in Mexico and the United States, and from there to be able to offer free remittances to our users,” explained Gutiérrez Galindo.

The executive stressed that technology unites what geographical divisions separate. To facilitate shipping from the United States, users of broxel they will be able to cash-in at more than 150,000 stores, pharmacies, and convenience stores.

“Having a financial product that allows the Mexican community in the United States to send money for free is proof that technology can change people’s lives,” said Mario López, actor, driver and defender of the causes of the Mexican-American community in the United States.

The company adds this feature to its portfolio of services, including a borderless platform and a virtual vault. Together with AT&T, it created the financial product ReMO and since last year it has been a Google Cloud partner for the democratization of financial technology solutions in Latin America.

During 2021, Broxel obtained two licenses before the National Banking and Securities Commission (CNBV), to operate as an institution of electronic payment and collective financing funds, under the provisions of the Law to Regulate Financial Technology Institutions, or Fintech Law.



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