Intermex
Intermex is a publicly traded, Miami-based money transfer company serving 4.5 million users across 70+ countries via 100,000+ agents, 117 retail stores, and digital channels, focused on US-to-Latin America and Caribbean remittances and pending acquisition by Western Union.
- Company typePublic
- Founded1994
- HeadquartersMiami, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Intermex does
Intermex (International Money Express, Inc.) is a publicly traded money transfer company (NASDAQ: IMXI), founded in 1994 and headquartered in Miami, Florida, that specializes in cross-border remittances from the United States to Latin America and the Caribbean. The company serves approximately 4.5 million users through a hybrid distribution model that combines over 100,000 independent agents and 117 company-operated retail stores in the U.S. with digital channels including a native iOS/Android mobile app, web platform, and a WhatsApp-based money transfer integration. Intermex holds dominant share in specific corridors (34% US-to-Ecuador and 36% US-to-Nicaragua), having nearly tripled its share of U.S. remittances over the past decade, and reaches over 70 countries via 180,000+ cash pick-up points with home delivery in the Dominican Republic and direct deposits to regional banks.
The company's technology stack centers on a digital money transfer platform featuring a three-tap Resend function, a Refer & Earn program, and over 200 trusted paying partners. Beyond core remittances, the product portfolio includes Instant Top-Ups (no-fee mobile reload across 350+ providers in 130+ countries), agent-based bill payment and money orders, the Intermex Payroll Mastercard and Intermex Más Prepaid Mastercard (prepaid cards issued by Central Bank of Kansas City with FDIC-insured funds up to $250,000), Apple/Google/Samsung Wallet tokenization, and the recently launched Zigi App in Guatemala (a Banco Industrial joint venture enabling phone-number-based remittance receipt). The platform integrates Mastercard, MoneyPass, and Maestro networks for card and ATM access.
Intermex monetizes primarily through per-transaction fees starting at approximately $2.99 and foreign exchange markups of 0.5% to 2.2%, supplemented by payroll card loading and transaction fees and a first-transfer fee-free acquisition promotion. The customer base is segmented across immigrant remittance senders (primary persona), payroll card customers (employers and unbanked employees), and digital service users (app, WhatsApp, and bill-pay adopters). With 1,001–5,000 employees and ~$590–650M in annualized revenue, Intermex is currently being acquired by The Western Union Company for approximately $500 million in all-cash at $16.00 per share, announced in August 2025 with close expected mid-2026 pending New York DFS approval; the deal targets $30M in annual run-rate cost synergies within 24 months of close.
Intermex firmographics
Firmographics- Name
- Intermex
- Legal name
- Intermex Wire Transfer, LLC
- Website
- https://intermexonline.com
- Company type
- Public
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Intermex is a publicly traded, Miami-based money transfer company serving 4.5 million users across 70+ countries via 100,000+ agents, 117 retail stores, and digital channels, focused on US-to-Latin America and Caribbean remittances and pending acquisition by Western Union.
- Ownership category
- akta.pro rank
Intermex industry classification
Industry- Product category
- Cross-Border Money Transfer and Remittance Services
- NAICS
- Miscellaneous Intermediation (523910)
- SIC
- International Affairs (9721)
- akta.pro primary industry
- Cross-Border & FX Payments Platforms (BPAMAFAK)
- akta.pro secondary industry
- Cross-border Payments & FX for E-commerce (CRAFALAF)
Keywords
Where Intermex is headquartered
LocationHeadquarters
- HQ city
- Miami
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Intermex business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Money Transfer Fees: Intermex charges transaction fees for international money transfers, with fees starting at approximately $2.99 based on destination country, payment method, amount sent, and promotional availability
- Payroll Card Services: Revenue generated from payroll card programs including the Intermex Payroll Mastercard and Intermex Más Prepaid Mastercard, with various loading and transaction fees
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | First transfer fee-free promotion for new customers |
| Transaction based/ take rate | Pay-as-you-go | Payroll Mastercard with no activation or purchase fees |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels3 records
Intermex product offering
Product offeringCore offering
Intermex is a money transfer company that enables consumers in the United States to send international remittances to over 70 countries, with a primary focus on Latin America and the Caribbean. Services are delivered through a network of 100,000+ independent agents, 117 company-operated stores, a mobile app, a web platform, and WhatsApp integration, complemented by prepaid payroll card products for employers and employees.
Product overview
Intermex offers a comprehensive money transfer platform focused on U.S. to Latin America and Caribbean remittances. The core offering consists of the international money transfer service available via mobile app, web, WhatsApp, and over 180,000 agent locations. The product portfolio includes the main transfer platform with instant top-ups and bill payment add-ons, the Intermex Payroll Mastercard and Intermex Más Prepaid Mastercard for payroll and general prepaid card needs, and the Zigi App for digital remittance reception in Guatemala. All services are connected through a unified network providing cash pickup, home delivery, and bank deposit options.
Differentiator
Problem solved
Functional benefit
Brands
- Intermex Payroll Mastercard: Prepaid payroll card issued by Central Bank of Kansas City, enabling employers to pay employees and allowing cardholders to receive wages, make purchases, and withdraw cash.
- Intermex Más Prepaid Mastercard
- Zigi App
Products and services
- International Money Transfer Core international money transfer service enabling consumers in the United States to send funds to recipients in Latin America, the Caribbean, and over 70 countries through cash pick-up at 180,000+ locations, home delivery, or direct bank deposit.
- Intermex Payroll Mastercard
Quantifiable outcome
- 180,000+ cash pick-up points worldwide
- +2 more outcomes
Companies that use Intermex
Customer profileSegments3 records
Ideal customer profiles2 records
Intermex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature4 records
Intermex partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor.
- Banco IndustrialminorIntermex and Banco Industrial launched the Zigi App in Guatemala, a digital financial platform enabling Guatemalans to receive remittances via their phone number, replacing traditional cash pickups.
- Orbit Money TransferminorIntermex partnered with Orbit Money Transfer to expand its remittance services into Canada, allowing customers to send money to Latin America and the Caribbean more efficiently through enhanced interconnectivity and a broader payout network.
- Caribe ExpressminorIntermex and Caribe Express announced a strategic alliance to improve remittance services between the United States and the Dominican Republic, leveraging digital infrastructure and market expertise for more seamless money transfer solutions.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Intermex competitors and assessment
Company assessmentBroad incumbents
- Xoom (PayPal): PayPal-owned digital remittance service for senders in the US, UK, Canada and EU to LATAM, Asia and Africa. Comparable on corridor coverage and customer base; benefits from PayPal's broader digital wallet ecosystem.
- DLocal: Cross-border payments platform serving emerging markets including LATAM, focused on merchant payouts rather than C2C remittance. Comparable on emerging-market cross-border infrastructure but distinct on customer type.
- Euronet Worldwide: Parent of Ria Money Transfer and a global payments/ATM network operator. Comparable as a broader incumbent in cross-border consumer payments and electronic financial transactions including remittances.
- Ria Money Transfer: Global remittance brand owned by Euronet Worldwide, with a large agent network serving similar US-to-LATAM corridors. Comparable on product, customer segment, and agent-led distribution.
Direct peers
- Western Union: The largest global money transfer operator with the broadest agent footprint. Directly comparable to Intermex in core C2C remittance and is also Intermex's announced acquirer, making it the most relevant direct peer.
- Remitly Global: NASDAQ-listed digital-first remittance company serving similar immigrant senders with app-led flows and bank-deposit payouts. Comparable on customer segment (US-based immigrants) and core corridors, contrasting on distribution model.
- Wise plc: Public digital cross-border payments company using mid-market FX with transparent fees. Comparable on cross-border consumer payments; overlaps less in cash-pickup-heavy LATAM corridors but competes for digitally native senders.
- MoneyGram: Major US-headquartered money transfer company competing directly with Intermex in US-to-Latin America corridors with a large agent network and digital app. Closely comparable on business model, customer base, and pricing structure.
- WorldRemit: Digital cross-border money transfer company serving immigrant senders globally, including significant LATAM flow. Closely comparable on mobile-first C2C remittance and corridor mix.
Emerging players
- Felix Pay: Chat-based cross-border payments platform focused on Latin America, recently signed as a partner of Intermex. Comparable as an emerging digital remittance player targeting the same LATAM corridors with a chat-native UX.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Intermex social profiles
Digital presenceIntermex compliance and trust
Trust signalCompliance2 records
Intermex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Intermex leadership team
Management profileNumber of profiles
Profiles6 records
Intermex subsidiaries and ownership
Company hierarchySubsidiaries3 records
Intermex funding detail
Funding detailFunding overview
Funding rounds4 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Intermex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Intermex
What does Intermex do?
Intermex is a money transfer company that enables consumers in the United States to send international remittances to over 70 countries, with a primary focus on Latin America and the Caribbean. Services are delivered through a network of 100,000+ independent agents, 117 company-operated stores, a mobile app, a web platform, and WhatsApp integration, complemented by prepaid payroll card products for employers and employees.
Is Intermex a public or private company?
Intermex is a public company. It is classified as public and is currently operating.
When was Intermex founded?
Intermex was founded in 1994. It employs 1,001 to 5,000 people.
Where is Intermex based?
Intermex is headquartered in Miami, United States, in the North America region.
How does Intermex make money?
Two revenue lines are on record. Money Transfer Fees are the primary driver. The others are payroll Card Services.
Who are Intermex's main competitors?
Broad incumbents on record are Xoom (PayPal), DLocal, Euronet Worldwide and Ria Money Transfer. Direct peers are Western Union, Remitly Global, Wise plc, MoneyGram and WorldRemit. Felix Pay is listed as an emerging player.
Does Intermex have an API?
No public API is recorded for Intermex.
What industry is Intermex in?
Intermex's product category is Cross-Border Money Transfer and Remittance Services. Its primary akta.pro industry code is BPAMAFAK, Cross-Border & FX Payments Platforms, with a secondary code of CRAFALAF, Cross-border Payments & FX for E-commerce. Its NAICS code is 523910 and its SIC code is 9721.