International Money Express, Inc (Intermex) Expands Connectivity: Launches International Top-Up Services Across 130+ Countries

Rhea-AI Summary

International Money Express (NASDAQ: IMXI) has launched a new international mobile top-up service in partnership with Ding, enabling customers to send mobile airtime credits to recipients in over 130 countries. The service, available from December 2024, allows users to add credit for calls, texts, and data to mobile phones abroad through Intermex's retail and digital channels at no additional cost.

The partnership leverages Ding's top-up delivery platform and Intermex's established presence in the Latin American community, expanding the company's financial services portfolio. This initiative aims to enhance connectivity for families separated by borders, reinforcing Intermex's commitment to providing culturally relevant financial solutions for its customer base.

Positive

• Expansion into new service category with mobile top-up capabilities
• Access to 130+ countries and hundreds of telecom providers
• No additional cost to consumers for the new service
• Service available across all retail and digital channels

Negative

• None.

Insights

Financial Analyst

The launch of international top-up services represents a strategic expansion of IMXI's revenue streams and service portfolio. While the direct revenue impact may be modest initially, this move strengthens IMXI's competitive position in the remittance market by offering complementary services that enhance customer retention and lifetime value. The partnership with Ding, a market leader in cross-border mobile top-ups, provides immediate scale across 130+ countries and hundreds of telecom providers without significant infrastructure investment.

This service integration aligns with IMXI's focus on the Latin American market, where mobile connectivity is important for maintaining family ties. The zero-cost implementation for consumers could drive rapid adoption while potentially generating incremental transaction fees. The expansion also positions IMXI to capture a larger share of customers' financial services needs, potentially leading to increased cross-selling opportunities and stronger customer relationships.

Market Research Analyst

The global mobile top-up market represents a significant opportunity, particularly in emerging markets where pay-as-you-go mobile services dominate. IMXI's strategic move targets their core Latin American demographic where mobile penetration is high but contract-based services are less common. By integrating top-up capabilities across both retail and digital channels, IMXI creates a seamless omnichannel experience that addresses a genuine customer need.

The partnership with Ding provides IMXI immediate access to an established infrastructure and extensive network of telecom providers, significantly reducing time-to-market and implementation risks. This service enhancement could help IMXI maintain its competitive edge in the increasingly digital remittance market while strengthening its value proposition to existing customers.

MIAMI, Dec. 12, 2024 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) ("Intermex" or the "Company"), a leading omnichannel money remittance services provider, is excited to announce the launch of its new international top-up service, in partnership with Ding, the market-leading provider of cross-border mobile top-up. Starting this December, Intermex customers can send mobile airtime top-ups to loved ones in more than 130 countries, connecting with hundreds of telecom providers worldwide.

A "top-up" is a quick and convenient way to add credit to a mobile phone account, allowing users to make calls, send texts, and access data without needing a formal subscription or contract. This new feature empowers customers to provide essential connectivity to family and friends abroad, ensuring they stay connected when it matters most.

This important service is now available across all Intermex retail and digital channels at no additional cost to consumers. By adding international top-up capabilities to its portfolio, Intermex continues to fulfill its promise to provide flexible, reliable, and community-focused financial services that enrich the lives of its customers.

Marcelo Theodoro, Chief Product, Marketing & Digital Officer at Intermex, commented about this milestone: "Our new international top-up service is a game-changer for our customers, offering the flexibility and reliability they’ve come to expect from Intermex. By leveraging our deep understanding of the Latin American community and our commitment to exceptional customer care, we’re enabling families to stay connected, no matter where they are. This launch underscores our dedication to delivering meaningful solutions that truly make a difference in people’s lives."

Mark O’Donoghue, Chief Executive of Ding, said “Our partnership puts Ding’s robust top-up delivery platform in front of Intermex’s carefully curated services for the Latin American diaspora community. We provide connections to over 130 countries through one service, and our work with Intermex brings the benefit of this connectivity to a significant audience.”

This latest addition to Intermex's services highlights the company’s mission to provide culturally relevant and user-focused financial and connectivity solutions. By creating new ways for people to stay connected across borders, Intermex reaffirms its role as a trusted partner and champion for the Latin community.

Whether through retail locations, digital platforms, or mobile apps, Intermex continues to make global communication straightforward and reliable—because staying in touch should always feel easy.

About International Money Express, Inc. (Intermex):
Founded in 1994, Intermex applies proprietary technology enabling consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom and Germany to more than 60 countries. The Company provides the digital movement of money through the Company’s website and mobile app, as well as through its network of agent retailers in the United States, Canada, Spain, Italy, the United Kingdom and Germany, and its Company-operated stores. Transactions are fulfilled and paid through
thousands of retail locations and banks around the world. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com.

About Ding
For eighteen years, Ding has been providing cross-border airtime and data purchase to global diaspora communities, supporting friends and family back home. The company’s mission to help those with less gain access to more, is provided through a market leading network of partners and direct to consumers via the market-leading ding.com web and app services. Headquartered in Dublin, Ding’s services reach 150 countries and 12,000 corridors of value transfer, enabling top-up to be delivered via a network of over 600 mobile network operators.

Forward-Looking Statements:
This press release contains forward-looking statements, including expectations regarding the benefits and impact of the new international top-up service. Such statements are subject to risks and uncertainties, including those outlined in the Company’s filings with the Securities and Exchange Commission. Intermex assumes no obligation to update these statements.

Investor Relations Contact:
Alex Sadowski
Investor Relations Coordinator
ir@intermexusa.com
Tel: 305-671-8000

FAQ

What new service did IMXI launch in December 2024?

IMXI launched an international mobile top-up service allowing customers to send airtime credits to recipients in over 130 countries.

How much does IMXI charge for the new international top-up service?

The international top-up service is available at no additional cost to consumers across all Intermex retail and digital channels.

Which company did IMXI partner with for the international top-up service?

IMXI partnered with Ding, the market-leading provider of cross-border mobile top-up services.

How many countries can receive mobile top-ups through IMXI's new service?

The service allows sending mobile top-ups to more than 130 countries, connecting with hundreds of telecom providers worldwide.

What channels can customers use to access IMXI's new top-up service?

Customers can access the top-up service through all Intermex retail locations and digital channels.