Intermex Payroll Mastercard Program Now Offers No-Fee International Wires Through Mobile App and Web

Rhea-AI Summary

Intermex (NASDAQ: IMXI), a leading money remittance provider, has enhanced its Payroll Card Program in collaboration with Central Payments. The program now offers no-fee international wire transfers through their mobile app and web platform.

The expanded program helps U.S. employers digitize payroll disbursement at no additional cost, eliminating paper checks and cash handling. Employees receive quick, secure access to wages and digital economy integration. The initiative combines payroll services with remittance capabilities, creating an inclusive financial solution that reduces costs for workers who traditionally rely on check-cashing services.

Positive

• Introduction of no-fee international wire transfers for payroll cardholders
• Cost-free payroll digitization solution for employers
• Integration of payroll and remittance services in one platform
• Expanded financial inclusion and access to digital economy for employees

Negative

• None.

Insights

Fintech and Remittance Analyst

Intermex's integration of no-fee international wires with payroll cards strengthens its competitive position and enhances revenue potential through increased transaction volume.

Intermex's expansion of its Payroll Card Program represents a strategic move to integrate two critical financial services: payroll processing and international remittances. By eliminating transfer fees for international wires sent through their mobile app and web platform, the company is addressing a significant pain point for immigrant workers who regularly send money abroad.

This initiative creates a multi-sided marketplace with clear benefits for all participants. Employers reduce operational costs by eliminating paper checks and cash handling. Employees gain digital access to their wages without check-cashing fees. Intermex positions itself to capture increased transaction volume and establish recurring revenue streams.

The business logic is compelling: by removing the friction of separate payroll and remittance transactions, Intermex can potentially convert one-off remittance customers into recurring users while simultaneously expanding its payroll services. This creates a flywheel effect where each service strengthens the other.

From a competitive standpoint, this integrated approach differentiates Intermex from both traditional remittance providers and digital banking platforms. While the elimination of transfer fees might suggest revenue pressure, the likely strategy is to increase transaction volume and frequency while monetizing through foreign exchange spreads—a common approach in the remittance industry.

For a company focused on Latin American and Caribbean corridors, this product enhancement addresses the specific needs of immigrant workers in the U.S. who often remain underbanked. By connecting payroll directly to remittance services, Intermex creates a stronger value proposition that could drive user acquisition and retention in a highly competitive market.

MIAMI, Sept. 16, 2025 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading money remittance provider to Latin America and the Caribbean, today announced the expansion of its Payroll Card Program in partnership with Central Payments. The program enables U.S. employers to digitize payroll disbursement at no additional cost to employers, eliminating the burden of issuing paper checks or handling cash. Employees gain fast, secure access to their wages and the digital economy.

“Employers carry a huge operational burden when running payroll with cash and checks. At Intermex, we can eliminate this in just days by digitizing the disbursement process at no cost for employers or employees,” said Marcelo Theodoro, Chief Digital, Product and Marketing Officer for Intermex. “Employees paid by check are often excluded from the digital economy and may incur significant fees to cash their wages. Adopting the Intermex Payroll Program provides an economic opportunity and a new level of care for employees.”

As part of this initiative, Intermex and Central Payments also launched a new feature that allows Intermex Payroll cardholders to send international wires with no transfer fee directly from the Intermex mobile app and web platform.

“By combining payroll and remittance services, Intermex Digital delivers a convenient and cost-effective solution for our consumers,” added Theodoro. “This innovation reflects our vision of financial inclusion, helping employees and their families reduce costs and expand access to trusted financial tools.”

“Together with Intermex, we’re bridging payroll, payments, and remittances into one seamless digital experience. This partnership empowers employees and their families by reducing costs and expanding access to financial tools they can trust,” said Eric Cotton, Central Payments President and Chief Payments Officer.

The no-fee wire feature underscores how payroll and digital remittance solutions can save families money, reduce reliance on costly check-cashing services, and expand access to financial tools anytime, anywhere.

About Intermex
Founded in 1994, Intermex enables consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom, and Germany to more than 60 countries. The company provides digital money movement through agent retailers, company-operated stores, mobile apps, and websites. Transactions are fulfilled and paid through thousands of retail and bank locations worldwide. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico; Guatemala City, Guatemala; London, England; and Madrid, Spain. For more information, visit www.intermexonline.com        

Intermex Contact
Alex Sadowski
IR@intermexusa.com

About Central Payments
Central Payments is a US-based payments organization built by bankers to serve the unique needs of today’s financial services industry. We architect, build, and fully administer payment programs for a variety of use cases in card issuance, digital wallets, and money movement – serving banks and brands.
For more information, visit https://central-payments.com/.   

The Intermex Payroll Mastercard^® is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

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FAQ

What new features did Intermex (NASDAQ: IMXI) add to its Payroll Card Program?

Intermex added no-fee international wire transfers through their mobile app and web platform for Payroll Card Program holders.

How much does the Intermex Payroll Card Program cost for employers?

The program is available at no additional cost to employers, eliminating expenses associated with issuing paper checks or handling cash.

What benefits does the Intermex Payroll Card Program offer to employees?

Employees receive fast, secure access to their wages, entry to the digital economy, and the ability to send international wire transfers without fees.

How does Intermex's partnership with Central Payments benefit users?

The partnership creates a seamless digital experience that combines payroll, payments, and remittances, reducing costs and expanding access to trusted financial tools.

What problem does Intermex's Payroll Card Program solve for employers?

The program eliminates the operational burden of running payroll with cash and checks by digitizing the disbursement process within days at no cost.