Tern’s end-to-end solution includes everything from a branded prepaid card and bilingual app to embedded KYC, AML, CIP, infrastructure, and analytics reporting.
TransferMex enables US employers to instantly pay their seasonal workers via a free prepaid card. Additionally, it allows the workers to send the payments to family and friends in Mexico the same day funds are received. Funds can also be sent to bank accounts or cash pickup locations at rural locations throughout Mexico, all with embedded compliance safeguards.
US employers would often hand physical checks to workers on the job site, costing both time and money. Now employers can simply issue a free card and pre-fund their workers’ payroll accounts. Additionally, this offering enables employers to abide by US labor laws and also pay workers after they have left.
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