Industry |

Pangea: Reimagining Money Movement Across Borders

September 12, 2019

Have you ever had to send money across borders? 

If so, you’re probably familiar with the long lines and recurring paperwork that bog down traditional money transfer services. For some, this world is unfamiliar — but foreign money transfer carries a larger significance than the peer-to-peer payment apps used domestically. More than simply reimbursing friends for dinner, remittances provide an economic lifeline for immigrants’ relatives and loved ones back home. 

As a pioneering mobile remittance technology, Pangea Money Transfer is helping transform the way users send and receive these important funds.

Traditionally, the outdated brick-and-mortar model has dominated the remittance space, forcing senders to travel to specific physical spaces. These locations are typically outdated currency exchange stores in stale strip malls with only a couple tellers taking in cash from behind security glass. Pangea is modernizing and improving this process for the 800 million people across the world directly supported by funds they receive from loved ones. Our service makes it easier to move money digitally and increases pick-up options for those on the receiving end. More broadly, we are striving to provide financial independence to disadvantaged populations worldwide.

The impact of mobile money transfers

While sending funds via a mobile app can require a significant adjustment period, immigrants and their families often view it as a dramatic, life-improving change. We try to make the transition as easy as possible by continuously improving our app’s user experience and providing several options for receiving money. Customers quickly see the value we bring, leading to a strong relationship right away.

Our 30-second transfers enable real-time economic support, without the delays experienced in other methods. This can be crucial in emergency situations, such as an elderly parent needing money for medical treatment. Initially launched through brand ambassadors in immigrant communities, our product is designed with a fundamental understanding of the problems that plague traditional remittance services. Pangea is reimagining the way people move money across borders, saving our users time and money along the way. 

Our employees, many of whom are motivated by firsthand experiences sending money to relatives, all believe in our mission wholeheartedly. We are driven by the importance of our core purpose, and excited by a new vision of digital money movement. Our whole company is committed to — ultimately helping their loved ones meet daily needs and achieve financial independence.

What sets Pangea apart?

While legacy money transfer providers have had to adapt their operations to evolving technology and senders’ growing demand for mobile transactions, Pangea was born mobile. We began in 2012 with an instant focus on exploring possibilities within digital and mobile-app money movement, allowing us to address regulatory and user experience issues early on. By the time other providers began keying into this growing area, Pangea’s mobile service was running smoothly — built to work quickly, securely and at a flat, predictable rate. Rather than a “disruptor,” we see Pangea as a cooperator, partnering with financial institutions to help them advance their offerings.

At Pangea, we set ourselves apart by meeting our users where they’re at. We are investing significant time and resources to ensure senders have an intuitive, simple experience in the app. With a mobile-first approach, our team is constantly thinking about how decisions will impact our users and ensuring transfers clear all necessary compliance hurdles. Our remittance process is world-changing for those who are used to the paperwork, waiting and document scanning that traditionally comes with moving money across borders.

Our solution is achieving success largely because of our focus on customers. Earning their trust and loyalty is our priority, so we base every product decision on data and extensive customer research. For instance, after consistent feedback from users who wished they could automate monthly transfers, we recently added a payment-scheduling service. Through customer surveys, A/B testing and a discerning ear to the ground, we’re able to tailor our services to the preferences and behaviors of our users across various geographic regions — from new features down to the color of our app.

This content is general in nature and does not provide legal, financial, accounting or tax advice.  In addition to a transfer fee, which may be waived, Pangea makes money from currency exchange rates. Always compare both transfer fees and exchange rates.  Pangea USA, LLC, all rights reserved. All other logos, trademarks, service marks and trade names referenced in this material are the property of their respective owners.

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