Intermex

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.

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

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

• International money transfer
• Remittance services
• Cross-border payments
• Prepaid payroll cards
• Money order services

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. 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
2. 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

Go-to-market motion1 record

Distribution channels5 records

Marketing channels3 records

Core 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

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

Three partnerships are on record, tiered minor.

• Banco IndustrialminorStrategic or Co-development Partner · 2 December 2025Intermex 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 TransferminorStrategic or Co-development Partner · 20 November 2025Intermex 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 ExpressminorStrategic or Co-development Partner · 28 October 2025Intermex 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

Broad 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

• Facebookfacebook.com/IntermexWireTransfer
• LinkedInlinkedin.com/company/intermex-wire-transfer-llc
• Instagraminstagram.com/intermexmoneytransfer

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Intermex