Partners with PRISM Transfer, a new money remittance player in Haiti

Partnership greatly expands payout options following earthquake and flooding

NEWARK, NJ, Aug. 25, 2021 (GLOBE NEWSWIRE) -- BOSS Revolution Money, the US-based international remittance service of IDT Corporation (NYSE:IDT), has partnered with PRISM Transfer, a Haitian remittance company, to significantly expand payout options in Haiti. The partnership provides BOSS Revolution customers with more disbursement options when sending cash to friends, family and loved ones in Haiti following the earthquake and subsequent flooding from Tropical Storm Grace.

With this collaboration, PRISM Transfer customers can immediately collect remittances at Fonkoze locations and MonCash customers can authorize PRISM Transfer to deposit remittances directly to their mobile wallets when receiving remittances via BOSS Revolution. 

“We are adding flexibility for BOSS Revolution Money customers who want to help family and friends in Haiti by providing important new ways for the recipients to get cash rapidly and safely,” said Alfredo O’Hagan, IDT’s SVP for Consumer Payments. “Our partnership with PRISM Transfer enables direct cash transfers to recipients in the country, and cash pick-up at more than 40 Fonkoze branch office locations.”

Through August 31, 2021, BOSS Revolution remittances up to $150 to MonCash full registered wallets and Fonkoze office locations throughout Haiti are just $1.00 when initiated from the BOSS Revolution Money app or website using a debit card, and start at $5.00 when initiated through a BOSS Revolution Money retail agent. Customers initiating remittances through retail agents receive $1.00 off when using the promo code HAITI1 through September 30, 2021.

“Through our partnership with Boss Revolution Money, MonCash customers have the option of authorizing PRISM Transfer to process the remittance payment straight to their wallets, providing them with the utmost security and convenience. Additionally, it offers traditional cash pick up via Fonkoze, making remittance transfers quicker than ever for our customers in Haiti,” said Adriana Pirela, Chief Marketing Officer for PRISM Holdings, parent company for PRISM Transfer. “We know how important it is for the Diaspora to be able to send money to their family and friends in Haiti and we wanted to make that process as seamless as possible and to offer as many options for customers in Haiti and outside of the country.”

First time users of the BOSS Revolution Money App (free at App Store and Google Play) pay no fees on any transfer up to $300.

BOSS Revolution Money Transfer services are also available online or at any BOSS Revolution Money retailer.

About IDT Corporation:

IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud communications and traditional communications services. We make it easier for families to connect, support and share across international borders. We also enable businesses to transact and communicate with their customers with enhanced intelligence and insight.

Our BOSS Revolution branded money transfer and international calling services make sending money and speaking with friends and family around the world convenient and reliable. National Retail Solutions’ (NRS) point-of-sale retail network enables independent retailers to operate and process transactions more effectively while providing advertisers and consumer marketers with unprecedented reach into underserved consumer markets. net2phone’s unified communications as a service solution provides businesses with intelligently integrated cloud communications and collaboration solutions across channels and devices. Our IDT Carrier Services and IDT Express wholesale offerings enable communications companies to provision and manage international voice and SMS services.

About PRISM Transfer

PRISM Transfer offers the fastest way to receive money in Haiti. The company connects loved ones in different locations by enabling international money transfers, so funds are destined to what matters most. Doing so, aims to shorten distances and create more ways for exchanging funds conveniently, securely, and easier for customers. Prism Transfer operates with sub-agents in Haiti to facilitate safety and convenience. Sub-agents in turn represent the level of service quality and commercial activity that PRISM Transfer aims to offer.

About PRISM Transfer Sub-Agents

MonCash, a mobile money service, has been contributing to Haiti’s financial ecosystem since 2015 and it is currently the best and easiest service for Haitians to make their daily transactions. The mobile money service has approximately 1.9 million customers with more than 4,000 authorized agents across the country. 

Fonkoze is a family of organizations that work together to provide the financial and non-financial services to empower Haitians - primarily women - to lift their families out of poverty. Among its full suite of financial services that are offered nationwide (primarily rural areas), personal remittances are essential towards the contribution to the Haitian Economy. Fonkoze processed $35 million in money transfers (322.035 transactions) on an annual basis. Other core services are Loans, Currency Exchange and Payroll Management.

Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838

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