BPI ties up with WorldRemit for faster remittance payments
The Bank of the Philippine Islands (BPI) wants to get more money out of the remittance business.
The Philippines is the biggest receiver market for the London-based WorldRemit money service provider, so it sought to broaden its reach in the country in order to service more Filipinos sending cash home.
WorldRemit announced its partnership with BPI on Tuesday, Sept. 12 in offering “low-cost” fund transfers globally, which can be made via a mobile app or on the Web.
Some 160,000 of WorldRemit’s 700,000 transactions each month are headed to the Philippines, making the deal with BPI very strategic for both parties.