Newark, NJ, June 04, 2024 (GLOBE NEWSWIRE) — BOSS Money, the remittance and payments brand of IDT Corporation (NYSE: IDT), today announced several significant initiatives to expand its popular money transfer service, including remittances within the United States.
BOSS Money’s new domestic money transfer solution enables customers in the U.S., using the popular BOSS Money or BOSS Revolution apps, to send money to their recipients’ U.S.-issued Visa or Mastercard-branded bank or reloadable debit cards. In most instances, the recipients’ card accounts are credited within minutes.
Alternatively, senders can use cash to transfer money to their recipient’s card from their local authorized BOSS Money retailer.
“With the launch of our domestic money transfer service, BOSS Money continues to make essential financial services more accessible. You can now send money within the U.S. even without a smartphone, internet access or a bank account,” said Esti Witty, EVP Product Management at BOSS Money.
BOSS Money also announced the recent launch of new delivery and payment options.
For money transfers from the U.S. to international destinations, BOSS Money customers can now transfer funds directly to their recipient’s in-country Visa-branded (and, in some instances, Mastercard-branded) debit or reloadable cards. Direct-to-card delivery is currently available for transfers to cards issued in popular Latin American and African destinations, as well as to the Philippines.
In addition, BOSS Money customers sending money both within the U.S. and internationally can now take advantage of reduced transaction fees by funding their transfer directly from their bank account instead of using their debit or credit card. This new, low-fee payment option is available to customers using either the BOSS Money or BOSS Revolution app.
Added Witty, “With our newest direct-to-card delivery and affordable bank account payment options, sending money to family and friends across the country or around the world is more convenient and affordable than ever.”
ABOUT IDT CORPORATION
IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT’s fintech and neo-banking services include BOSS Money, a popular international remittance business, as well as other services that make saving, spending, and sharing money easy and secure; IDT Digital Payments and BOSS Revolution Calling make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT Global and IDT Express enable communications services to provision and manage international voice and SMS messaging.
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.
Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: [email protected]
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