The app called Prósperos allows immigrant families to send money safely and conveniently to Latin America while providing recipients with a Mastercard to access funds.
Vinay Pai, CEO and cofounder, mentioned, "It can be used at a taqueria. It can also work at an ATM machine. So sometimes you have to have cash, and this is the best way to get it there."
Antonio Lopez, East Palo Alto Mayor, emphasized the risks Latino families face when carrying cash for wire transfers, recalling, "I remember as a kid, vividly, every week... how much he's losing in fees."
Community members noted the app's security features as particularly appealing, as they help minimize fraud and the risk of robbery during money transfers.
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