The Philippines is one of the most important markets for cash transfers abroad. Previously, customers always had to go to a WU branch. Now, however, the US provider is cooperating with a Philippine FinTech company, which allows transfers directly into the e-wallet.
The US-American provider of international cash transfers Western Union recently announced a partnership with the Philippine startup Coins.ph. It will allow people in the Philippines to transfer money remotely from abroad directly into an electronic wallet. Although Western Union customers have been able to ship cash from abroad, recipients have had to visit a US provider’s branch each time to receive the money they send, often with long waiting times. Although there is a well-developed network of WU locations in the Philippines – 12,000 in number – in particular, people living outside of cities have had to travel long distances to seek out the US operator’s nearest location. This is now facilitated by the cooperation of the two companies.
Philippines – one…