Case Study: How Rain Powers Wallbit's Card Program for Remote Workers in Latin America

The Challenge

Remote work is reshaping economies globally, especially in Latin America (LATAM) where thousands of remote workers receive salaries in USD. Despite earning in a stable global currency, these workers often face substantial hurdles in accessing, managing, and spending their USD earnings conveniently. Traditional banking solutions often result in costly currency conversions, restrictive access, and complicated withdrawal processes, impacting financial freedom and efficiency. Wallbit, a US-based digital neobank servicing LATAM remote workers, recognized the pressing need to provide their users with a robust, frictionless, and globally accepted payment solution.

The Solution

To address these challenges, Wallbit partnered with Rain to launch their Visa card program. Leveraging Rain's advanced card issuance infrastructure, Wallbit is now able to offer its users commission-free USD credit cards that simplify the process of spending and managing earnings worldwide. Key elements of Rain's solution include:

• Global Spending Freedom: Wallbit users receive Visa credit cards issued in the US, enabling effortless payments both locally and internationally, free from costly conversions or complicated fees.
• Simplified Financial Management: Remote workers can seamlessly access and utilize their USD income directly, whether paying for local expenses, traveling abroad, or subscribing to online services, all without additional taxes or charges.
• Robust Security and Reliability: Rain’s secure card issuance infrastructure includes advanced security measures and real-time fraud monitoring, protecting user funds and data.
• Scalable Infrastructure: Rain's flexible and reliable system enables Wallbit to rapidly scale their card program, accommodating growing demand across their key markets in Argentina, Colombia, and Mexico.

The Results

The collaboration between Rain and Wallbit has significantly improved financial access and usability for remote workers across LATAM:

• Empowering Financial Inclusion: Thousands of remote workers across Argentina, Colombia, and Mexico now enjoy unrestricted access to their USD income, eliminating previous financial barriers and creating greater financial independence.
• Reduced Transaction Costs: By eliminating unnecessary currency conversions and fees, users see immediate savings, improving their overall financial wellbeing.
• Enhanced User Satisfaction: Wallbit has reported high customer satisfaction rates, with users valuing the ease and convenience of managing their finances through the Wallbit app and Rain-enabled Visa Platinum card.
• Increased Adoption and Usage: The streamlined and globally accepted credit card has driven growth in new user adoption and existing customer engagement for Wallbit, solidifying its position as a leading digital banking solution for remote workers in the region.

“Partnering with Rain has enabled Wallbit to truly unlock financial freedom for our users. Remote workers in LATAM now have seamless access to their USD earnings, without unnecessary fees or friction.” — Rodrigo Vidal, CEO of Wallbit

Conclusion

Through Rain’s innovative card issuance technology, Wallbit is successfully addressing the unique financial needs of LATAM's remote workforce. By seamlessly integrating USD-based spending and management into everyday life, Wallbit and Rain together provide remote workers freedom and flexibility, ushering in a new era where the future of work meets the future of banking.

To learn more about how Rain is enabling transformative financial solutions, visit www.raincards.com.