US-based independent digital remittance company Remitly has partnered with B2B electronic domestic and cross-border processing and payment platform TransNetwork to add its money transfer service in 250 Grupo Exito retail stores in Colombia.
As part of the deal, Remitly will work with Grupo Exito to launch 250 retail pay-out locations at the retailer’s Colombian store network, branded as Exito, Carulla and Super Inter.
The 250 cash collection points will enable Remitly customers to receive money from retail stores.
In addition, the digital remittance company has partnered with Remesas y Pagos CUSCA and its sub-agents Walmart, Despensa de don Juan, SuperSelectos and Banco Cuscatlan to offer the service in more than 600 locations across El Salvador.
Remitly CEO Matt Oppenheimer said: “These partnerships bring hard-working people much-needed transparency, security, and ease when sending money to loved ones.
“Our customers now have more control and many more options in regions that depend greatly on money sent to them from loved ones working across borders.”
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Based in Houston, TransNetwork is an electronic domestic and cross-border processing and payment platform operating more than 30,000 payment network locations in Mexico, Central and South America.
The company’s payment service is currently available in Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Ecuador, Peru and Colombia.
Based in Colombia, Grupo Exito currently operates more than 570 stores in different formats including hypermarkets, premium supermarkets, convenience stores and wholesalers.