Pangea Money Transfer, a mobile-centric remittance platform for sending money from the U.S. to 15 countries across Asia and Latin America, has dropped its flat rate money transfer fee for senders to India by more than 20 percent — from $4.99 down to $3.95.
While Pangea (http://www.pangeamoneytransfer.com) is already a top-ranked service for new senders, including bank deposits within minutes, low flat fees and some of the best exchange rates in the industry (as seen on comparison sites such as Remit Rate), this update is expected to further solidify loyalty to the platform.
“At Pangea, we’re constantly looking for ways to provide our loyal customers and their families with a better money transfer experience,” said CEO Nishu Thukral, in a phone interview to News India Times.
“Recently, we innovated our product to allow deposits to any bank account in India within minutes. Within a few days of that, we heard from a grateful customer who had to remit funds instantly to help pay for a medical emergency, and it was possible because of Pangea. With the recent pricing update, our customers will be able to access more affordable transfers while maintaining the speed of delivery,” he added.
Thukral, a graduate of the University of Michigan, worked in investment banking before starting Pangea “with the idea to innovate and solve the complexity of mobile money transfers, that allows for cross border remittances to be done in a fair and safe way.”
Thukral said Pangea differs from other money transfer services in offering a “seamless mobile experience, that someone can download our app, create an account and send money to their friends and family within seconds, and the money moves instantly.”
“Pangea’s exchange rates are very competitive with the market” and “the company continues to lower its prices, passing on those savings to the customers,” Thukral added.
It’s the convenience of using the service on a mobile phone in the comfort of your living room, along with knowing when and for how much your money gets to its destination that sets Pangea apart from its competitors, according to Thukral.
“That type of consistent experience is why customers come to us,” said Thukral.
Working with almost all banks in India, Pangea can move money infinitely, having built the risk and compliance technology for itself there, as well as in the US.
In addition to continuing to reduce pricing, Thukral believes Pangea would potentially in future offer additional services, so customer feedback is always welcome.
The Pangea mobile app makes it easy for users from the U.S. to securely send money in seconds to friends and family. The set-up process is quick, and 98 percent of recipients experience the end-to-end transfer within minutes. Features of the app include one-click repeat transfers, an intuitive user experience and a transparent flat-rate fee structure. Recipients can get their money in cash at thousands of pickup locations or have it deposited directly into a bank account or onto a debit card.
Pangea has earned the “Best User Experience” and “Fastest Transfer” at the 2017 Finder Money Transfer Awards.