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Remitly Announces New Partnership With Novi For The Pilot Of Its Digital Wallet
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
partnership
Rhea-AI Summary
Remitly Global Inc. (NASDAQ: RELY) has partnered with Novi to pilot a cash pickup service in Guatemala, utilizing Remitly’s extensive global payments network. The pilot allows transactions using the Pax Dollar (USDP) stablecoin without fees, targeting financial access for users in the US and Guatemala. This initiative aligns with Remitly's mission to enhance financial inclusion for immigrants. Additionally, Remitly has developed 'Remitly for Developers', facilitating cross-border payment solutions via API integration for businesses, making services available in emerging markets.
Positive
Partnership with Novi enhances financial inclusion through cash pickup service in Guatemala.
Utilization of the Pax Dollar (USDP) stablecoin allows fee-free transactions.
'Remitly for Developers' expands cross-border payment solutions for businesses.
Negative
None.
SEATTLE--(BUSINESS WIRE)--
Remitly Global Inc. (NASDAQ: RELY), a leading digital financial services provider for immigrants and their families, today announced a partnership with Novi, a next generation digital wallet. To support its pilot launch, Novi is leveraging Remitly’s custom-built global network to enable cash pickup in Guatemala. Remitly’s global payments network spans over 1,700 corridors, serving customers in 17 countries, sending to over 115 receive countries.
With the launch of the pilot program, Novi is enabling customers to send and receive money using the Pax Dollar (USDP) stablecoin, securely and without fees. In alignment with its mission, Remitly is pleased to support Novi’s initiative to open new channels of financial access and inclusion. Novi is now available to a limited number of customers in the US and Guatemala.
Remitly launched Remitly For Developers, a cross-border payments offering that leverages Remitly’s custom-built global network and compliance and regulatory infrastructure in 2020. With Remitly for Developers, businesses can integrate this network and infrastructure into their applications and websites through a simple API. This enables them to offer cross-border payments to their customers and introduce new digital solutions in emerging markets.
About Remitly
Remitly is a leading digital financial services provider for immigrants and their families in over 135 countries around the world. Its vision is to transform the lives of immigrants and their families by providing the most trusted financial services on the planet. Through its cross-border remittances, Remitly helps immigrants send money home in a safe, reliable, and transparent manner via its digitally-native app, which eliminates the long wait times, complexities and fees typical of traditional remittance processes. Passbook by Remitly, a money management app specifically designed for immigrants in the United States, eliminates fees and other common barriers to storing, spending, and sending money. Remitly for Developers allows companies to offer locally relevant payout options to customers with a simple API integration. Remitly is headquartered in Seattle and has offices around the world, including London, Kraków, Manila and Managua. For more information, visit Remitly.com, Passbook.app, and developer.remitly.com.
