Millions of Latinos in the US rely on sending money home to support loved ones in Latin America.
Enter Felix Pago, a financial service platform designed to make this process easier than ever.
What is Felix Pago?
Unlike traditional money transfer services that require app downloads, Felix Pago is integrated with WhatsApp, a popular messaging app used by almost everyone in Latin America. Users initiate and complete most of the transaction via a user-friendly WhatsApp chatbot, eliminating the need for additional apps or complex registration processes.
Why is this process so complicated?
Manuel J. Godoy's journey with Felix Pago is deeply rooted in his personal experiences and the challenges he faced as an immigrant. His inspiration stemmed from the difficulties he encountered while trying to send money back to his family in Venezuela.
When I moved to the US, I realized how complicated it was to send money back home. It was expensive and time-consuming. I knew there had to be a better way. - CEO Manuel Godoy
Felix Pago’s Iteration Process: From e-commerce to remittances
Today, Felix Pago is a financial service platform designed to simplify the process of sending money from the US to Latin America, however initially, Godoy and his co-founder tested various hypotheses, including cross-border e-commerce.
However, they quickly realized that users primarily wanted to send money, not goods. This insight led to the development of a WhatsApp-based service that mimics the trusted in-store experience. "We started with the idea of cross-border shopping, but quickly realized the primary need was sending money. That's when Felix Pago was born."
Felix Pago leverages WhatsApp, an essential communication tool in Latin America, to provide a user-friendly remittance service. This approach addresses the trust issue by emulating the familiar process of sending money through local stores while offering the convenience of digital payments. "Using WhatsApp was a game-changer. It’s already a part of daily life for our users, so integrating our service there made it easy and trustworthy."
WhatsApp is the operating system of the region, so it makes sense that we build something on WhatsApp to make it super easy. - CEO Manuel Godoy
How does Felix Pago work?
It’s simple. Follow these three steps to send money with Felix Pago:
- Text Félix via WhatsApp: Initiate the money transfer by sending a message to Félix on WhatsApp. No need for any apps or complicated registration processes.
- Send money now: With Felix Pago, users can send money instantly from the comfort of their home. No need to visit a store, handle cash, or wait in line.
- Receive immediately: The money arrives instantly! It can be deposited directly into a bank account.
