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BOSS Money Expands Remittance Service to Venezuela, Brazil, and Eritrea
IDTIDT(IDT) GlobeNewswire·2025-01-15 15:50

Core Insights - BOSS Money has expanded its remittance services to include Venezuela, Brazil, and Eritrea, enhancing payment options for customers sending money from the USA [2][3][4] - The company is offering zero-fee transfers up to 500toVenezuelathroughitsappsuntilJuly31,2025,aimingtoattractmoreusers[3][6]−BOSSMoneyexperiencedarecordholidayseason,processingover2milliontransfersinDecember2024,indicatingstrongdemandforitsservices[6]ExpansionofServices−BOSSMoneynowallowscashtransfersto34majorVenezuelanbanks,includingBancoBicentenarioandBanesco,facilitatingdirectdepositsforusers[3]−TheservicewillsoonenablemoneytransferstoBrazilviaPix,Brazil′srapidpaymentsystem,andhasexpandedpayoutoptionsinAfrica,includingmobilewalletsinEthiopiaandLiberia[4][5]−CustomerscanalsousedebitcardstofundtransfersatselectBOSSMoneyretailagents,withplansfornationwideavailability[5]CustomerIncentives−Newcustomerscanbenefitfromtwozero−feetransfersupto500 to Venezuela through its apps until July 31, 2025, aiming to attract more users [3][6] - BOSS Money experienced a record holiday season, processing over 2 million transfers in December 2024, indicating strong demand for its services [6] Expansion of Services - BOSS Money now allows cash transfers to 34 major Venezuelan banks, including Banco Bicentenario and Banesco, facilitating direct deposits for users [3] - The service will soon enable money transfers to Brazil via Pix, Brazil's rapid payment system, and has expanded payout options in Africa, including mobile wallets in Ethiopia and Liberia [4][5] - Customers can also use debit cards to fund transfers at select BOSS Money retail agents, with plans for nationwide availability [5] Customer Incentives - New customers can benefit from two zero-fee transfers up to 2,999 on the BOSS Money and BOSS Revolution apps, with additional incentives for transfers to Mexico [6] - The company emphasizes convenience, speed, and reliability in its services, aiming to empower customers to support their families globally [5] Company Overview - IDT Corporation, the parent company of BOSS Money, provides a range of fintech and communication solutions, including international remittances and cloud communications [7]