December 31, 2010: MANILA, Philippines – The Banko Sentral ng Pilipinas wants banks to further reduce remittance fees, urging them to consider the welfare of families of overseas Filipino workers (OFWs).
“The remittance fees can go down further; banks have leeway to cut the rates,” BSP Deputy Governor Diwa Guinigundo told reporters before the holiday break.
The central bank executive said reducing remittance charges would encourage OFWs to send more money to their beneficiaries. Remittances are a big boost to the Philippine economy, fueling household consumption.
In the first 10 months of the year, remittances reached $15.5 billion—up 7.9 percent year-on-year.
Banks’ remittance fees range from P150 to P550 per transaction, depending on the amount of remittance and the country of origin.
But a few banks that have started to use the Philippine payment and settlement system (PhilPaSS) of the BSP now charge only P50 per transaction, the central bank said.
PhilPass, an electronic system that clears check payments to and from banks the BSP regulates, has been designed specifically to bring down remittance costs.
A bank that hooks up to the PhilPaSS may electronically send remittance to a branch near the location of a recipient. This way, banks need no longer have to hire couriers to deliver remittances received at the head offices.
The BSP expects remittances sent through formal channels (banks, registered money transfer companies) to continue to grow in 2011, specifically to reach over $20 billion. Michelle V. Remo, Philippine Daily Inquirer
Showing posts with label Sending Money. Show all posts
Showing posts with label Sending Money. Show all posts
Saturday, January 1, 2011
Friday, October 15, 2010
Globe launches ATM card for OFW remittances
MANILA, Philippines—G-Xchange Inc. (GXI), a wholly owned subsidiary of Globe Telecom, has launched an automated teller machine (ATM) card that makes it easier for Filipinos to receive remittances from their relatives and other loved ones abroad.
The GCASH Card, which is an ATM card linked to an electronic wallet, allows holders to withdraw remittances from the estimated 9,000 automated teller machines of Bancnet, Megalink, ExpressNet, and Encash nationwide.
"With the launch of the GCASH card, our customers are given an additional 9,000 locations to cash out their GCASH using almost any ATM in the country... Customers benefit from low-cost, secure, convenient and customer-friendly option of [receiving remittances]," GXI president Rizza Maniego-Eala said on Thursday in a press conference.
Globe subscribers may apply for GCASH card. Once a remittance is sent to them, they get a notification through their mobile phones. Then, they may encash the remittance using the GCASH card and any of the 9,000 ATMs in the country.
GXI says it has remittance-center partners in 33 countries worldwide. Overseas Filipino workers may send remittances through these remittance agents. The recipient then may withdraw the remittance immediately after the money is sent by the sender offshore.
Prior to the launch of GCASH card, GXI already has the GCASH service, which includes facilitation of remittances. In the past, however, GCASH subscribers who are recipients of remittances needed to go to Globe stores or GCASH payout outlets to get their money.
Eala said Globe already has about one million subscribers to the GCASH service, which has allowed facilitation of remittances and other commercial transactions, such as purchase of goods.
In particular, a GCASH subscriber may transfer fund, using mobile phone powered by a Globe line, to another GCASH subscriber as a way to consummate a commercial transaction.
GXI estimates that transactions using GCASH amount to about P5 billion a month. Transactions cover sending and receiving of remittances, and payments for purchases and bills.
Eala said that while a million clients have already benefitted from the GCASH, they would gain even more benefit with the latest issuance of the GCASH card. "It's now more convenient to receive remittances," Eala said.
Each transaction using the GCASH card is charged P20.
Like any other ATM cards, a GCASH subscriber may withdraw a maximum of P40,000 a day using their GCASH card.
The Philippines ranks 4th worldwide in terms of the amount of remittances received from migrant workers. Last year, remittances to the Philippines amounted to $17.3 billion, and the Bangko Sentral ng Pilipinas expects the figure to grow anywhere between 6 and 8 percent this year.
The huge amount of remittances being sent to the Philippines has made the remittance business attractive to many companies in the financial services sector. - Michelle Remo, Philippine Daily Inquirer, October 14, 2010
The GCASH Card, which is an ATM card linked to an electronic wallet, allows holders to withdraw remittances from the estimated 9,000 automated teller machines of Bancnet, Megalink, ExpressNet, and Encash nationwide.
"With the launch of the GCASH card, our customers are given an additional 9,000 locations to cash out their GCASH using almost any ATM in the country... Customers benefit from low-cost, secure, convenient and customer-friendly option of [receiving remittances]," GXI president Rizza Maniego-Eala said on Thursday in a press conference.
Globe subscribers may apply for GCASH card. Once a remittance is sent to them, they get a notification through their mobile phones. Then, they may encash the remittance using the GCASH card and any of the 9,000 ATMs in the country.
GXI says it has remittance-center partners in 33 countries worldwide. Overseas Filipino workers may send remittances through these remittance agents. The recipient then may withdraw the remittance immediately after the money is sent by the sender offshore.
Prior to the launch of GCASH card, GXI already has the GCASH service, which includes facilitation of remittances. In the past, however, GCASH subscribers who are recipients of remittances needed to go to Globe stores or GCASH payout outlets to get their money.
Eala said Globe already has about one million subscribers to the GCASH service, which has allowed facilitation of remittances and other commercial transactions, such as purchase of goods.
In particular, a GCASH subscriber may transfer fund, using mobile phone powered by a Globe line, to another GCASH subscriber as a way to consummate a commercial transaction.
GXI estimates that transactions using GCASH amount to about P5 billion a month. Transactions cover sending and receiving of remittances, and payments for purchases and bills.
Eala said that while a million clients have already benefitted from the GCASH, they would gain even more benefit with the latest issuance of the GCASH card. "It's now more convenient to receive remittances," Eala said.
Each transaction using the GCASH card is charged P20.
Like any other ATM cards, a GCASH subscriber may withdraw a maximum of P40,000 a day using their GCASH card.
The Philippines ranks 4th worldwide in terms of the amount of remittances received from migrant workers. Last year, remittances to the Philippines amounted to $17.3 billion, and the Bangko Sentral ng Pilipinas expects the figure to grow anywhere between 6 and 8 percent this year.
The huge amount of remittances being sent to the Philippines has made the remittance business attractive to many companies in the financial services sector. - Michelle Remo, Philippine Daily Inquirer, October 14, 2010
Friday, October 1, 2010
BDO, Wells Fargo sign deal on remittance transfers
MANILA, Philippines -- Local banking giant Banco de Oro Unibank seeks to further grow its lucrative overseas Filipino remittance business via a new partnership with American financial giant Wells Fargo & Co.
San Francisco-based Wells Fargo, for its part, has effectively tripled its remittance pay-out locations in the Philippines – the fourth largest country in the globe in terms of inbound remittance – by hooking up not just with the country's largest bank but with the leading non-bank domestic remittance retailer M.Lhuillier Financial Services Inc.
"We understand how important remittances are to the Philippines," said Daniel Ayala, executive vice president and head of Wells Fargo's global remittance services, during Thursday's signing ceremonies on this partnership.
"By helping out Filipino customers reach more locations throughout the country, we hope we can stimulate the economy of their homeland by supporting their family and friends."
BDO has 650 branches and 1,333 automated teller machines and was cited by the Bangko Sentral ng Pilipinas as the largest remittance channel in the country in 2009 based on volumes. In addition to its vast retail network, BDO has existing tie-ups with rural banks as well as the shopping mall and retailing units of its sister companies under tycoon Henry Sy's SM group.
With this new tie-up, overseas Filipinos who are Wells Fargo customers can send up to $3,000 a day to their beneficiary through BDO or up to $1,000 a day to their beneficiary at M.Lhuiller for $5 from an eligible Wells Fargo account or for $7 if originated from cash.
Customers may also qualify for a discounted fee based on their account relationship with Wells Fargo. Remittances to the Philippines are denominated in Philippine pesos.
The tie-up is seen allowing BDO, already accounting for a hefty 30 percent of the inward remittance business, to further grow its market share.
M. Lhuillier vice president Michael Lhuillier, for his part, said his firm's working relationship would help millions of Filipinos living and working in the US better facilitate their money transfers to local beneficiaries. M. Lhuillier has 1,300 locations across the country including remote areas such as Batanes, Tawi-tawi, Surigao and Siargao.
"Together we are offering a service that will provide a secure, convenient and competitively priced remittance services," Lhuillier said. - Doris Dumlao, Philippine Daily Inquirer, October 01, 2010
San Francisco-based Wells Fargo, for its part, has effectively tripled its remittance pay-out locations in the Philippines – the fourth largest country in the globe in terms of inbound remittance – by hooking up not just with the country's largest bank but with the leading non-bank domestic remittance retailer M.Lhuillier Financial Services Inc.
"We understand how important remittances are to the Philippines," said Daniel Ayala, executive vice president and head of Wells Fargo's global remittance services, during Thursday's signing ceremonies on this partnership.
"By helping out Filipino customers reach more locations throughout the country, we hope we can stimulate the economy of their homeland by supporting their family and friends."
BDO has 650 branches and 1,333 automated teller machines and was cited by the Bangko Sentral ng Pilipinas as the largest remittance channel in the country in 2009 based on volumes. In addition to its vast retail network, BDO has existing tie-ups with rural banks as well as the shopping mall and retailing units of its sister companies under tycoon Henry Sy's SM group.
With this new tie-up, overseas Filipinos who are Wells Fargo customers can send up to $3,000 a day to their beneficiary through BDO or up to $1,000 a day to their beneficiary at M.Lhuiller for $5 from an eligible Wells Fargo account or for $7 if originated from cash.
Customers may also qualify for a discounted fee based on their account relationship with Wells Fargo. Remittances to the Philippines are denominated in Philippine pesos.
The tie-up is seen allowing BDO, already accounting for a hefty 30 percent of the inward remittance business, to further grow its market share.
M. Lhuillier vice president Michael Lhuillier, for his part, said his firm's working relationship would help millions of Filipinos living and working in the US better facilitate their money transfers to local beneficiaries. M. Lhuillier has 1,300 locations across the country including remote areas such as Batanes, Tawi-tawi, Surigao and Siargao.
"Together we are offering a service that will provide a secure, convenient and competitively priced remittance services," Lhuillier said. - Doris Dumlao, Philippine Daily Inquirer, October 01, 2010
Sunday, August 16, 2009
MoneyGram-Philippines-based M. Lhuillier roll out dollar payout service
Khaleej Times - 06/08/2009
(MENAFN - Khaleej Times) Money transfer company MoneyGram International said it is expecting more overseas Filipino workers to avail of its US dollar payouts service which it launched with Philippines-based M. Lhuillier Financial Services Inc.
The service launched last April, made Lhuillier, which operates more than 1,200 outlets nationwide, the first Moneygram agent to offer the service in the Philippines.
Through the service, Filipinos working abroad can send money home from the UAE from any of the MoneyGram outlets like Al Rostamani International Exchange, Al Fardan Exchange and Al Ahalia Exchange. Their beneficiaries will receive cash in US dollars.
"Our strategic alliance will help MoneyGram continue to provide competitive pricing for our customers in the Philippines, and reach out to a wider customer base across the Philippines though M. Lhuillier's extensive network," said Richard Meredith, regional director for MoneyGram Middle East, Pakistan and Afghanistan.
The Philippine central bank expects remittances from overseas Filipino workers to stay flat in 2009 at around last year's level of $16.4 billion. The Philippines is one of the world's leading sources for skilled and unskilled workers with up to 9 million people, about 10 per cent of the population, living and working in 140 countries.
By Rocel Felix
(MENAFN - Khaleej Times) Money transfer company MoneyGram International said it is expecting more overseas Filipino workers to avail of its US dollar payouts service which it launched with Philippines-based M. Lhuillier Financial Services Inc.
The service launched last April, made Lhuillier, which operates more than 1,200 outlets nationwide, the first Moneygram agent to offer the service in the Philippines.
Through the service, Filipinos working abroad can send money home from the UAE from any of the MoneyGram outlets like Al Rostamani International Exchange, Al Fardan Exchange and Al Ahalia Exchange. Their beneficiaries will receive cash in US dollars.
"Our strategic alliance will help MoneyGram continue to provide competitive pricing for our customers in the Philippines, and reach out to a wider customer base across the Philippines though M. Lhuillier's extensive network," said Richard Meredith, regional director for MoneyGram Middle East, Pakistan and Afghanistan.
The Philippine central bank expects remittances from overseas Filipino workers to stay flat in 2009 at around last year's level of $16.4 billion. The Philippines is one of the world's leading sources for skilled and unskilled workers with up to 9 million people, about 10 per cent of the population, living and working in 140 countries.
By Rocel Felix
Sunday, August 9, 2009
Filipinos in Italy pay most to remit money
ACCORDING TO WORLD BANK STUDY
INQUIRER.net
First Posted 14:46:00 08/09/2009
MANILA, Philippines—Filipinos around the world pay between $6.93 and $19.05 to remit $200 to their families back home, the Trade Union Congress of the Philippines (TUCP) quoted a World Bank study of global money transfer charges as of the first quarter of 2009.
In a statement, the TUCP secretary general Ernesto Herrera said workers in the Kingdom of Saudi Arabia spend the least in remittance fees, paying an average of $6.93, whether they transmit $500 or $200.
Those in Spain follow next, shelling out an average of $12.42 to dispatch $500, or $10.64 to transfer $200. Filipinos in Germany pay out an average of $13.06 to forward $500, or $11.07 to convey $200.
Migrant Filipino workers in the United States spend an average of $12.79 to send $500 home to their families in the Philippines, or an average of $11.45 to remit $200. Filipino workers in the United Kingdom shell out an average of $17.75 to wire $500, or $14.40 to transfer $200.
But those in Italy spend an average of $22.28 to send $500, or $19.05 to remit $200.
Herrera, former chairman of the Senate committee on labor, employment and human resources development, described the average remittance costs as "oppressive and burdensome."
"They are definitely excessive, considering that in this day and age of modern technologies, seamless and cost-efficient money transfers are already possible through such platforms as the Internet and international mobile telephone short-messaging," he said.
He said any potential savings realized by overseas Filipino workers (OFWs) from lower remittance charges would surely allow more funds to flow into the Philippine economy.
Herrera said the Philippines should combine forces with other top remittance-receiving countries such as India and Mexico, and find ways to step up pressure so that multinational banks would reduce their money transfer fees.
Annual remittances from OFWs have steadily grown from just $105 million in 1975 to a whopping $16.426 billion in 2008, making the Philippines the world’s fourth-biggest collector of money from migrant workers.
In the five months to May this year, remittances from OFWs reached $6.98 billion, up $190 million or 2.8 percent compared to the $6.79 billion they wired home in the same five-month period in 2008.
Western Hemisphere leaders, at the Special Summit of the Americas in Monterey, Mexico, way back in January 2004, had called for the cost of remittances to be cut in half.
This call was echoed by the finance and central bank chiefs of the Group of Seven (the US, the UK, Canada, France, Germany, Italy, and Japan) who also declared in April 2004 that, "on remittances, we will continue to work on our initiatives to reduce barriers that raise the cost of sending them and integrate remittance services in the formal financial sector."
INQUIRER.net
First Posted 14:46:00 08/09/2009
MANILA, Philippines—Filipinos around the world pay between $6.93 and $19.05 to remit $200 to their families back home, the Trade Union Congress of the Philippines (TUCP) quoted a World Bank study of global money transfer charges as of the first quarter of 2009.
In a statement, the TUCP secretary general Ernesto Herrera said workers in the Kingdom of Saudi Arabia spend the least in remittance fees, paying an average of $6.93, whether they transmit $500 or $200.
Those in Spain follow next, shelling out an average of $12.42 to dispatch $500, or $10.64 to transfer $200. Filipinos in Germany pay out an average of $13.06 to forward $500, or $11.07 to convey $200.
Migrant Filipino workers in the United States spend an average of $12.79 to send $500 home to their families in the Philippines, or an average of $11.45 to remit $200. Filipino workers in the United Kingdom shell out an average of $17.75 to wire $500, or $14.40 to transfer $200.
But those in Italy spend an average of $22.28 to send $500, or $19.05 to remit $200.
Herrera, former chairman of the Senate committee on labor, employment and human resources development, described the average remittance costs as "oppressive and burdensome."
"They are definitely excessive, considering that in this day and age of modern technologies, seamless and cost-efficient money transfers are already possible through such platforms as the Internet and international mobile telephone short-messaging," he said.
He said any potential savings realized by overseas Filipino workers (OFWs) from lower remittance charges would surely allow more funds to flow into the Philippine economy.
Herrera said the Philippines should combine forces with other top remittance-receiving countries such as India and Mexico, and find ways to step up pressure so that multinational banks would reduce their money transfer fees.
Annual remittances from OFWs have steadily grown from just $105 million in 1975 to a whopping $16.426 billion in 2008, making the Philippines the world’s fourth-biggest collector of money from migrant workers.
In the five months to May this year, remittances from OFWs reached $6.98 billion, up $190 million or 2.8 percent compared to the $6.79 billion they wired home in the same five-month period in 2008.
Western Hemisphere leaders, at the Special Summit of the Americas in Monterey, Mexico, way back in January 2004, had called for the cost of remittances to be cut in half.
This call was echoed by the finance and central bank chiefs of the Group of Seven (the US, the UK, Canada, France, Germany, Italy, and Japan) who also declared in April 2004 that, "on remittances, we will continue to work on our initiatives to reduce barriers that raise the cost of sending them and integrate remittance services in the formal financial sector."
Friday, July 17, 2009
iRemit beefs up services to boost transactions
By Karen Flores, abs-cbnNEWS.com
Created 07/17/2009 - 13:50
MANILA - Money transfer firm iRemit Inc. continues to beef up its service offerings to generate more transactions this year as the pace of remittances remains slow amid the economic downturn.
According to iRemit President and Chief Operating Officer Harris Jacildo, the company will provide new services to encourage overseas Filipino workers (OFWs) to make more frequent transactions in their offices.
He said they are hoping that fees collected from these new offerings would make up for the slow growth in remittances as a result of the global crisis.
"Now, it's really more of a volume game. It's about the number of transactions. We should be generating traffic in our offices, and one way is to offer a wide array of attractive products and services," he told reporters at the sidelines of iRemit's annual stockholders' meeting on Friday, not citing figures. The company ended 2008 with 2.4 million transactions from 1.9 million in the previous year.
Jacildo said they are looking to tie up with an electronics firm so OFWs can send appliances to their families and beneficiaries in the Philippines. They are also boosting their partnership with the Philippine Health Insurance Corp. to enable OFWs to pay for their health insurance online.
These are just a few of the creative offerings iRemit has thought of.
In February, iRemit tied up with consumer giant Nestle to allow OFWs to send home a variety of chocolates and other food items. Just recently, the company formed a partnership with Jollibee Foods Corp. for a food remittance delivery [12] service.
The remittance firm has also enhanced its partnership with state-run Pag-ibig fund [13] (Home Development Mutual Fund) and the Social Security System to improve monthly contributions and loan payments from OFWs.
Growth
Jacildo said iRemit is on track with its target to achieve "better" profits this year than last year, adding that the company usually performs better in the second half of the year as OFWs send more money for the holiday season.
"Even in terms of projections, the second half has always been better (than the first half). We expect that profits for the second half will pick up," he said.
iRemit reported a net income of P129.98 million [14] last year, a 15% rise from P113.29 million in 2007. For the first half of 2009, it has set a profit target of P60 million.
As for remittance growth, Jacildo expressed optimism that these will start to recover during the latter part of the year, but not in the same level as 2008.
"The trend in the first half will also follow in the second half. There's going to be growth from last year, but it will just be a small increase," he said.
Money sent home by OFWs reached a record $1.48 billion [15] in May, but the pace of growth is still slow at 3.7% compared to double-digit increases in the previous years.
The latest figure brings the country's total remittance inflows to $6.98 billion for the first 5 months of the year, a 2.8% growth from $6.79 billion reached in the same period in 2008.
Expansion
iRemit is planning to expand its operations in Italy, the country's fourth largest source of remittances after the United States, Saudi Arabia, and Canada. At present, the company said some 200,000 OFWs are based in the European country.
"The Filipino migrants in Italy are generally educated, with most of them having exposure and access to different money transfer services. This poses a challenge, yes, but we are positive that we can exceed customer expectations by offering them innovative, fast, safe, and reliable remittance products and services," Jacildo said, adding that iRemit is still waiting for the release of its license to operate in Italy.
Aside from Italy, Jacildo said iRemit is also planning to establish its presence in Switzerland and Greece either by setting up its own subsidiaries or through partnerships with major remittance operators.
Next week, the iRemit is set to put up an office in Edmonton, the company's fifth branch in Canada.
"Canada is our strongest market. That's why we're opening our fifth branch there. We've been there for almost 8 years," he said.
iRemit is the country's largest non-bank Filipino-owned remittance company, with a growing network of remittance centers in 26 countries across Asia Pacific, North America, Europe, and the Middle East.
as of 07/17/2009 3:54 PM
Created 07/17/2009 - 13:50
MANILA - Money transfer firm iRemit Inc. continues to beef up its service offerings to generate more transactions this year as the pace of remittances remains slow amid the economic downturn.
According to iRemit President and Chief Operating Officer Harris Jacildo, the company will provide new services to encourage overseas Filipino workers (OFWs) to make more frequent transactions in their offices.
He said they are hoping that fees collected from these new offerings would make up for the slow growth in remittances as a result of the global crisis.
"Now, it's really more of a volume game. It's about the number of transactions. We should be generating traffic in our offices, and one way is to offer a wide array of attractive products and services," he told reporters at the sidelines of iRemit's annual stockholders' meeting on Friday, not citing figures. The company ended 2008 with 2.4 million transactions from 1.9 million in the previous year.
Jacildo said they are looking to tie up with an electronics firm so OFWs can send appliances to their families and beneficiaries in the Philippines. They are also boosting their partnership with the Philippine Health Insurance Corp. to enable OFWs to pay for their health insurance online.
These are just a few of the creative offerings iRemit has thought of.
In February, iRemit tied up with consumer giant Nestle to allow OFWs to send home a variety of chocolates and other food items. Just recently, the company formed a partnership with Jollibee Foods Corp. for a food remittance delivery [12] service.
The remittance firm has also enhanced its partnership with state-run Pag-ibig fund [13] (Home Development Mutual Fund) and the Social Security System to improve monthly contributions and loan payments from OFWs.
Growth
Jacildo said iRemit is on track with its target to achieve "better" profits this year than last year, adding that the company usually performs better in the second half of the year as OFWs send more money for the holiday season.
"Even in terms of projections, the second half has always been better (than the first half). We expect that profits for the second half will pick up," he said.
iRemit reported a net income of P129.98 million [14] last year, a 15% rise from P113.29 million in 2007. For the first half of 2009, it has set a profit target of P60 million.
As for remittance growth, Jacildo expressed optimism that these will start to recover during the latter part of the year, but not in the same level as 2008.
"The trend in the first half will also follow in the second half. There's going to be growth from last year, but it will just be a small increase," he said.
Money sent home by OFWs reached a record $1.48 billion [15] in May, but the pace of growth is still slow at 3.7% compared to double-digit increases in the previous years.
The latest figure brings the country's total remittance inflows to $6.98 billion for the first 5 months of the year, a 2.8% growth from $6.79 billion reached in the same period in 2008.
Expansion
iRemit is planning to expand its operations in Italy, the country's fourth largest source of remittances after the United States, Saudi Arabia, and Canada. At present, the company said some 200,000 OFWs are based in the European country.
"The Filipino migrants in Italy are generally educated, with most of them having exposure and access to different money transfer services. This poses a challenge, yes, but we are positive that we can exceed customer expectations by offering them innovative, fast, safe, and reliable remittance products and services," Jacildo said, adding that iRemit is still waiting for the release of its license to operate in Italy.
Aside from Italy, Jacildo said iRemit is also planning to establish its presence in Switzerland and Greece either by setting up its own subsidiaries or through partnerships with major remittance operators.
Next week, the iRemit is set to put up an office in Edmonton, the company's fifth branch in Canada.
"Canada is our strongest market. That's why we're opening our fifth branch there. We've been there for almost 8 years," he said.
iRemit is the country's largest non-bank Filipino-owned remittance company, with a growing network of remittance centers in 26 countries across Asia Pacific, North America, Europe, and the Middle East.
as of 07/17/2009 3:54 PM
Saturday, July 11, 2009
Jollibee, iRemit tie up for food remitttance delivery service
By Zinnia B. Dela Peña
philstar.com
Updated July 11, 2009 12:00 AM
MANILA, Philippines – Homegrown fastfood giant Jollibee Foods Corp. has forged a partnership with listed money transfer firm iRemit Inc. for a food remittance delivery service, following concerns that the slowing pace of remittance inflows may impact the company’s sales this year.
Called “Jollibee Salu-Salo Padala Treat Mula sa iRemit,” the tie-up allows overseas Filipino workers (OFWs) to send Jollibee meals to their families and beneficiaries in the Philippines through any iRemit branch in Australia, Hong Kong, Singapore, Taiwan, United Kingdom and Canada.
OFWs can choose from Jollibee’s five meal packages ranging from P800 to P1,000, with each offering good for five persons. The iRemit system will then direct these orders to Jollibee’s head office in Manila for delivery.
Provincial recipients, however, will only be given a reference number, which they will present to the nearest Jollibee branch to claim their meals.
“By treating their loved ones in the Philippines with their favorite Jollibee meals whether during special occasions or simple family gatherings, our OFWs can still contribute and be part of these family moments, even when they are miles away from home,” Jollibee president Ernesto Tanmantiong said.
“With the increasing number of Filipinos leaving for other countries to be able to offer a better life for their loved ones, this project presents an invaluable opportunity to help bridge and strengthen family togetherness: a priceless pursuit that is important for both companies,” Jacildo said.
Jacildo said both companies have set a system in place to make sure that the deliveries are complete and are on time especially with the anticipated surge of orders placed not only during family celebrations and occasions but even during ordinary days when OFWs just feel like sending pasalubong to their loved ones.
“Now, with ‘Salu-salo Padala Treat mula sa iRemit’, no distance can exempt an overseas Filipino from not making his family feel special and remembered,” Jacildo added.
I-remit, the country’s largest non-bank remittance firm, said it also sees this partnership as an opportunity to strengthen ties between Filipinos overseas and their families or beneficiaries in the Philippines while providing fast, reliable and secure remittance services.
philstar.com
Updated July 11, 2009 12:00 AM
MANILA, Philippines – Homegrown fastfood giant Jollibee Foods Corp. has forged a partnership with listed money transfer firm iRemit Inc. for a food remittance delivery service, following concerns that the slowing pace of remittance inflows may impact the company’s sales this year.
Called “Jollibee Salu-Salo Padala Treat Mula sa iRemit,” the tie-up allows overseas Filipino workers (OFWs) to send Jollibee meals to their families and beneficiaries in the Philippines through any iRemit branch in Australia, Hong Kong, Singapore, Taiwan, United Kingdom and Canada.
OFWs can choose from Jollibee’s five meal packages ranging from P800 to P1,000, with each offering good for five persons. The iRemit system will then direct these orders to Jollibee’s head office in Manila for delivery.
Provincial recipients, however, will only be given a reference number, which they will present to the nearest Jollibee branch to claim their meals.
“By treating their loved ones in the Philippines with their favorite Jollibee meals whether during special occasions or simple family gatherings, our OFWs can still contribute and be part of these family moments, even when they are miles away from home,” Jollibee president Ernesto Tanmantiong said.
“With the increasing number of Filipinos leaving for other countries to be able to offer a better life for their loved ones, this project presents an invaluable opportunity to help bridge and strengthen family togetherness: a priceless pursuit that is important for both companies,” Jacildo said.
Jacildo said both companies have set a system in place to make sure that the deliveries are complete and are on time especially with the anticipated surge of orders placed not only during family celebrations and occasions but even during ordinary days when OFWs just feel like sending pasalubong to their loved ones.
“Now, with ‘Salu-salo Padala Treat mula sa iRemit’, no distance can exempt an overseas Filipino from not making his family feel special and remembered,” Jacildo added.
I-remit, the country’s largest non-bank remittance firm, said it also sees this partnership as an opportunity to strengthen ties between Filipinos overseas and their families or beneficiaries in the Philippines while providing fast, reliable and secure remittance services.
RP firm gains foothold in Damascus
Doris C. Dumlao
Philippine Daily Inquirer
June 30, 2009 00:40:00
MANILA, Philippines--I-Remit Inc. the leading non-bank Filipino cash transfer company, has gained a foothold in Syria with the signing of a partnership with Damascus-based money remittance and foreign exchange trading firm Al Alamiah Group Co.
Company officials told the Philippine Stock Exchange yesterday that they had signed a memorandum of agreement with Al Alamiah, hoping to serve about 17,000 Filipinos based in Syria.
“The agreement allows a tie-up of two companies in offering money remittance services to Filipino workers in Syria who intend to remit money to beneficiaries in the Philippines,” i-Remit said.
The agreement expands i-Remit’s global footprint, having established presence in 26 countries and territories.
In 2008, i-Remit reported a remittance volume of $1.08 billion, up by 42 percent over a year ago.
Philippine Daily Inquirer
June 30, 2009 00:40:00
MANILA, Philippines--I-Remit Inc. the leading non-bank Filipino cash transfer company, has gained a foothold in Syria with the signing of a partnership with Damascus-based money remittance and foreign exchange trading firm Al Alamiah Group Co.
Company officials told the Philippine Stock Exchange yesterday that they had signed a memorandum of agreement with Al Alamiah, hoping to serve about 17,000 Filipinos based in Syria.
“The agreement allows a tie-up of two companies in offering money remittance services to Filipino workers in Syria who intend to remit money to beneficiaries in the Philippines,” i-Remit said.
The agreement expands i-Remit’s global footprint, having established presence in 26 countries and territories.
In 2008, i-Remit reported a remittance volume of $1.08 billion, up by 42 percent over a year ago.
Metrobank remittance cited
Doris Dumlao
Philippine Daily Inquirer
June 17, 2009 23:51:00
MANILA, Philippines—Local banking giant Metropolitan Bank and Trust Co. has won a citation for high-quality remittance service from Commerzbank AG, one of Europe’s leading financial institutions and the second largest in Germany.
It bagged the “STP (straight-through processing) Award 2008” which Commerzbank said was in “recognition of Metrobank’s excellent quality in the delivery of euro-denominated commercial payments and financial transfers throughout the year 2008.”
Metrobank was cited for reaching high standards in the STP category for bank-to-individual money as well as bank-to-bank money transfers during the period of January to December 2008 for payments drawn on its account with Commerzbank AG in Frankfurt, Germany.
“We are glad to be given recognition by one of the largest clearing banks in Europe and in the world, for our efforts in providing the highest level of quality and speed of international payments,” said Metrobank executive vice president Dennis Suico.
In 2006 and 2008, Metrobank likewise received STP awards from the Bank of New York-Mellon for US dollar-denominated transfers.
“Metrobank utilizes modern and technologically advanced systems to keep pace with the stringent requirements of international banking standards, including settlements,” Suico said. “This is in line with our goal of providing the best possible service to our customers as their trusted partner, and becoming the best bank for our stakeholders.”
STP refers to a fully automated processing of payment orders without any manual intervention by the clearing bank, thereby lowering operating and transaction costs and increasing operations efficiency.
Philippine Daily Inquirer
June 17, 2009 23:51:00
MANILA, Philippines—Local banking giant Metropolitan Bank and Trust Co. has won a citation for high-quality remittance service from Commerzbank AG, one of Europe’s leading financial institutions and the second largest in Germany.
It bagged the “STP (straight-through processing) Award 2008” which Commerzbank said was in “recognition of Metrobank’s excellent quality in the delivery of euro-denominated commercial payments and financial transfers throughout the year 2008.”
Metrobank was cited for reaching high standards in the STP category for bank-to-individual money as well as bank-to-bank money transfers during the period of January to December 2008 for payments drawn on its account with Commerzbank AG in Frankfurt, Germany.
“We are glad to be given recognition by one of the largest clearing banks in Europe and in the world, for our efforts in providing the highest level of quality and speed of international payments,” said Metrobank executive vice president Dennis Suico.
In 2006 and 2008, Metrobank likewise received STP awards from the Bank of New York-Mellon for US dollar-denominated transfers.
“Metrobank utilizes modern and technologically advanced systems to keep pace with the stringent requirements of international banking standards, including settlements,” Suico said. “This is in line with our goal of providing the best possible service to our customers as their trusted partner, and becoming the best bank for our stakeholders.”
STP refers to a fully automated processing of payment orders without any manual intervention by the clearing bank, thereby lowering operating and transaction costs and increasing operations efficiency.
Tuesday, July 7, 2009
Friendster wires a money transfer feature to the Philippines
VentureBeat
February 11, 2009 | Eric Eldon
Friendster has just introduced a way to send and receive payments with friends on the social network through your mobile phone — if you’re using Filipino currency, that is. This is a smart way for the site to take advantage of the trusted relationships that its users have already made in one of its core demographics (apparently, about a third of the company’s traffic comes from the Philippines). By taking a cut of every transaction, Friendster is also creating a new revenue stream for itself.
The service is a partnership between Mountain View, Calif.-based Friendster and Philippines-based telecommunications company Globe Telecom. To send money, a user must first register their mobile phone number with their Friendster account (here) as well as enable their mobile number to send and receive payments through Globe’s mobile payment system, GCASH (here). Then, users can send money to anyone on their friends list who also has a GCASH account by viewing their friend’s profile and clicking on the “Send GCASH” button. The sender enters the amount of money to transfer, and GCASH sends the recipient a confirmation text message. The sender then confirms the payment transfer by entering the PIN number for their mobile device. The two companies charge users P2.50 (Philippine pesos) per transaction.
Friendster itself became popular in the Philippines (and eventually other Asian countries including Indonesia and Malaysia) in part through Filipino-Americans telling their friends and families about it. One day, Friendster’s payment service could potentially disrupt the business of other wire-transfer services used by Filipinos in the U.S. and other countries to send money to relatives back home. I tried using the service myself, but it’s not available for mobile users in the U.S. — Friendster will need to bring together disparate mobile and payment systems to make its payment service truly international.
In the meantime, Friendster has a strong position in the Filipino domestic market. It had more than 13 million monthly unique visitors in the country last December, according to the company’s internal numbers — that’s in a country of 14 million internet users. Friendster also has the number one mobile site in the country, according to Opera’s mobile browser stats. As the Philippines and other Asian countries continue to develop, and as the average person becomes wealthier, a payments revenue stream could eventually become significant for Friendster.
But the company is already, to my knowledge, the first large U.S.-based social network to enable this sort of money transfer. Rivals like Facebook and hi5 have been experimenting with getting users to put real money into their own sites — but only to spend on virtual currencies and virtual goods. Perhaps they’ll also move in the direction of direct payments? It seems like a promising new way of making money using the data they have about users and friend relationships.
ABOUT THE AUTHOR, Eric Eldon
Eric currently covers digital media technology and business, especially what's happening on social networks and their platforms. He writes and edits stories about lots of other stuff, too. He started at VentureBeat in the spring of 2007, half a year or so after Matt Marshall left his reporting job at the San Jose Mercury News to found the site. Eric previously cofounded a now-failed startup called Writewith, that was building editorial software for newspapers and other groups of writers.
February 11, 2009 | Eric Eldon
Friendster has just introduced a way to send and receive payments with friends on the social network through your mobile phone — if you’re using Filipino currency, that is. This is a smart way for the site to take advantage of the trusted relationships that its users have already made in one of its core demographics (apparently, about a third of the company’s traffic comes from the Philippines). By taking a cut of every transaction, Friendster is also creating a new revenue stream for itself.
The service is a partnership between Mountain View, Calif.-based Friendster and Philippines-based telecommunications company Globe Telecom. To send money, a user must first register their mobile phone number with their Friendster account (here) as well as enable their mobile number to send and receive payments through Globe’s mobile payment system, GCASH (here). Then, users can send money to anyone on their friends list who also has a GCASH account by viewing their friend’s profile and clicking on the “Send GCASH” button. The sender enters the amount of money to transfer, and GCASH sends the recipient a confirmation text message. The sender then confirms the payment transfer by entering the PIN number for their mobile device. The two companies charge users P2.50 (Philippine pesos) per transaction.
Friendster itself became popular in the Philippines (and eventually other Asian countries including Indonesia and Malaysia) in part through Filipino-Americans telling their friends and families about it. One day, Friendster’s payment service could potentially disrupt the business of other wire-transfer services used by Filipinos in the U.S. and other countries to send money to relatives back home. I tried using the service myself, but it’s not available for mobile users in the U.S. — Friendster will need to bring together disparate mobile and payment systems to make its payment service truly international.
In the meantime, Friendster has a strong position in the Filipino domestic market. It had more than 13 million monthly unique visitors in the country last December, according to the company’s internal numbers — that’s in a country of 14 million internet users. Friendster also has the number one mobile site in the country, according to Opera’s mobile browser stats. As the Philippines and other Asian countries continue to develop, and as the average person becomes wealthier, a payments revenue stream could eventually become significant for Friendster.
But the company is already, to my knowledge, the first large U.S.-based social network to enable this sort of money transfer. Rivals like Facebook and hi5 have been experimenting with getting users to put real money into their own sites — but only to spend on virtual currencies and virtual goods. Perhaps they’ll also move in the direction of direct payments? It seems like a promising new way of making money using the data they have about users and friend relationships.
ABOUT THE AUTHOR, Eric Eldon
Eric currently covers digital media technology and business, especially what's happening on social networks and their platforms. He writes and edits stories about lots of other stuff, too. He started at VentureBeat in the spring of 2007, half a year or so after Matt Marshall left his reporting job at the San Jose Mercury News to found the site. Eric previously cofounded a now-failed startup called Writewith, that was building editorial software for newspapers and other groups of writers.
Saturday, July 4, 2009
Xoom.com and PNB Launch : Innovative Online Remittance Service
INQUIRER.net
Posted date: November 17, 2008
SAN FRANCISCO, CA, November 10, 2008 – Xoom.com, the fastest growing online money transfer company, and Philippine banking giant, the Philippine National Bank (PNB), have announced a partnership that makes possible unprecedented speed in sending money to the Philippines. Money transfers that used to take days to bank accounts will now usually be available in minutes. With the Xoom secure website, OFW’s all over the world can send money to their beneficiaries’ PNB bank accounts hassle-free and at very affordable rates.
“PNB is always on the lookout for strategic alliances with partners that will further improve our banking services to OFWs. Xoom’s revolutionary online remittance service assures seamless cash transfer to their beneficiaries’ PNB bank accounts,” said PNB President and CEO Omar Byron T. Mier.
Likewise, Xoom President and CEO John Kunze said that, “Given PNB’s strong franchise in the OFW market, the tie-up provides an excellent opportunity for Xoom.com to further improve its own services for the Filipino community. With this arrangement, more overseas Filipinos can enjoy superior service, fast money transfer and low prices.”
Remitting money to a PNB account with Xoom.com is easy. Simply visit www.xoom.com/philippines, enter sender information, the recipient’s PNB account details and the amount to be remitted. Then, choose a payment method – bank account, credit/debit card or PayPal – and click “send.” The money will be available in the recipient’s PNB account usually in minutes. It is also easy on the budget – transfer money for as low as $3.50* and send $300 to $2,500 denominations for an incredibly affordable rate of $7.99 when paying with US bank accounts.
“The usual inconveniences associated with long queues and limited hours of operation of traditional remittance outlets will be completely wiped out through this service,” remarked Gene Gutierrez, Xoom.com Regional Vice-President for the Philippines. “Efficiency and convenience is thus assured.”
In addition to bank deposits in minutes, Xoom.com also provides cash pickup in over 1,900 locations in the Philippines, and home delivery in major cities and home provinces. For more information on these and other products, please visit www.xoom.com or call 1 877-993-7966 for customer service in Tagalog. Recipients in the Philippines can call 1-800-10-636-7000 (PLDT) or 1-800-8-636-7000 (Globe). Customers can also send e-mails about any questions by logging on to xoom.com/help.
ABOUT PNB
The Philippine National Bank is one of the largest banks in the Philippines with a wide array of competitive banking products to answer the diverse needs of its huge clientele, which includes more than two million depositors. PNB commands a strong foothold in the remittance business with remittance centers in the US, Canada, United Kingdom Spain, France, Germany, Austria, Italy, Hong Kong, Japan, Singapore, and the Middle East countries. It has the widest international presence among Philippine banks and also has one of the widest branch network in the Philippines.
ABOUT XOOM
Xoom.com allows individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
Posted date: November 17, 2008
SAN FRANCISCO, CA, November 10, 2008 – Xoom.com, the fastest growing online money transfer company, and Philippine banking giant, the Philippine National Bank (PNB), have announced a partnership that makes possible unprecedented speed in sending money to the Philippines. Money transfers that used to take days to bank accounts will now usually be available in minutes. With the Xoom secure website, OFW’s all over the world can send money to their beneficiaries’ PNB bank accounts hassle-free and at very affordable rates.
“PNB is always on the lookout for strategic alliances with partners that will further improve our banking services to OFWs. Xoom’s revolutionary online remittance service assures seamless cash transfer to their beneficiaries’ PNB bank accounts,” said PNB President and CEO Omar Byron T. Mier.
Likewise, Xoom President and CEO John Kunze said that, “Given PNB’s strong franchise in the OFW market, the tie-up provides an excellent opportunity for Xoom.com to further improve its own services for the Filipino community. With this arrangement, more overseas Filipinos can enjoy superior service, fast money transfer and low prices.”
Remitting money to a PNB account with Xoom.com is easy. Simply visit www.xoom.com/philippines, enter sender information, the recipient’s PNB account details and the amount to be remitted. Then, choose a payment method – bank account, credit/debit card or PayPal – and click “send.” The money will be available in the recipient’s PNB account usually in minutes. It is also easy on the budget – transfer money for as low as $3.50* and send $300 to $2,500 denominations for an incredibly affordable rate of $7.99 when paying with US bank accounts.
“The usual inconveniences associated with long queues and limited hours of operation of traditional remittance outlets will be completely wiped out through this service,” remarked Gene Gutierrez, Xoom.com Regional Vice-President for the Philippines. “Efficiency and convenience is thus assured.”
In addition to bank deposits in minutes, Xoom.com also provides cash pickup in over 1,900 locations in the Philippines, and home delivery in major cities and home provinces. For more information on these and other products, please visit www.xoom.com or call 1 877-993-7966 for customer service in Tagalog. Recipients in the Philippines can call 1-800-10-636-7000 (PLDT) or 1-800-8-636-7000 (Globe). Customers can also send e-mails about any questions by logging on to xoom.com/help.
ABOUT PNB
The Philippine National Bank is one of the largest banks in the Philippines with a wide array of competitive banking products to answer the diverse needs of its huge clientele, which includes more than two million depositors. PNB commands a strong foothold in the remittance business with remittance centers in the US, Canada, United Kingdom Spain, France, Germany, Austria, Italy, Hong Kong, Japan, Singapore, and the Middle East countries. It has the widest international presence among Philippine banks and also has one of the widest branch network in the Philippines.
ABOUT XOOM
Xoom.com allows individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
‘Minuto Lang’ Money Transfers Possible
INQUIRER.net
February 26, 2009
SAN FRANCISCO, CA, January 27, 2009 – Online money transfer company Xoom.com and Cebuana Lhuillier are offering money transfer services with cash pickups to the Philippines. This “Minuto Lang!” service partnership is available at over 1,200 Cebuana Lhuillier locations. Any one of these locations can provide your recipient with money in minutes! Many Cebuana Lhuillier shops offer extended hours of operation, offering even more convenience. With a wide network of branches extending into remote provinces of the Philippines, Cebuana Lhuillier provides easy access options for customers.
“The customer values speed when sending money.” said Julian King, Xoom.com Senior Vice President of Marketing and Corporate Development. “Our partnership with Cebuana Lhuillier allows us to provide that speed. Customers are pleased since they receive their money transfers in just minutes!”
Cebuana Lhuillier, a household name for many Pinoys, services thousands of customers a day at their branches throughout the Philippines. Xoom.com taps into this nationwide network and makes sending money to the Philippines more convenient.
“We have been working hand in hand with Xoom.com for over three years.” said Andre D. Lhuillier, Vice-President of Cebuana Lhuillier Services Corporation. “It has been a very valuable partnership – not just for our companies, but for Pinoys everywhere. OFW’s can send remittances faster and more conveniently through Xoom.”
Remitting money with Xoom.com is easy. Simply visit the xoom.com website, enter sender information, how the money will be received, and the amount to be remitted. Then, choose a payment method – bank account, credit/debit card or PayPal – and click “send”. The money will be available in the Philippines in just minutes**. Xoom money transfer fees to the Philippines start at just $3.50*. Pinoys can send $300 to $2,999 for an affordable rate of $7.99 when paying with a US bank accounts.
“Cebuana Lhuillier adds considerable breadth to the Xoom.com reach.” said Gene Gutierrez, Xoom.com Regional Vice-President for the Philippines. “Cebuana Lhuillier is almost in every local township, so our services extend far and wide.”
Xoom.com also provides bank deposits to any bank in the Philippines, home delivery nationwide and over 3,000 cash pickup locations, many of which are open 24 hours a day, 7 days a week. For more information on Xoom money transfer services, please visit www.xoom.com or call 1-877-993-7966 for customer service in Tagalog. Recipients in the Philippines can call 1-800-10-636-7000 (PLDT) or 1-800-8-636-7000 (Globe). Customers can also send e-mail to Xoom customer service 24 hours a day, 7 days a week.
About Cebuana Lhuillier
The Cebuana Lhuillier Services Corporation (CLSC) is an affiliate of the P.J. Lhuillier Group of Companies; an organization managing and operating businesses in diverse industries including financial and insurance services; retail and trade; property and resort management; communications and information technology. Its core business is in pawnshop services, bannered by the Cebuana Lhuillier brand.
About Xoom
Xoom.com enables individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
*Xoom makes money on transactions involving foreign currency exchange based on the difference between the rate at which Xoom purchases foreign currency and the rate provided to you.
**The speed of transaction claim is dependent on good funds availability and approval by the Xoom proprietary verification system. It is subject to Xoom receiving agent hours of operation and difference in time zone, and may not be available for all transactions.
February 26, 2009
SAN FRANCISCO, CA, January 27, 2009 – Online money transfer company Xoom.com and Cebuana Lhuillier are offering money transfer services with cash pickups to the Philippines. This “Minuto Lang!” service partnership is available at over 1,200 Cebuana Lhuillier locations. Any one of these locations can provide your recipient with money in minutes! Many Cebuana Lhuillier shops offer extended hours of operation, offering even more convenience. With a wide network of branches extending into remote provinces of the Philippines, Cebuana Lhuillier provides easy access options for customers.
“The customer values speed when sending money.” said Julian King, Xoom.com Senior Vice President of Marketing and Corporate Development. “Our partnership with Cebuana Lhuillier allows us to provide that speed. Customers are pleased since they receive their money transfers in just minutes!”
Cebuana Lhuillier, a household name for many Pinoys, services thousands of customers a day at their branches throughout the Philippines. Xoom.com taps into this nationwide network and makes sending money to the Philippines more convenient.
“We have been working hand in hand with Xoom.com for over three years.” said Andre D. Lhuillier, Vice-President of Cebuana Lhuillier Services Corporation. “It has been a very valuable partnership – not just for our companies, but for Pinoys everywhere. OFW’s can send remittances faster and more conveniently through Xoom.”
Remitting money with Xoom.com is easy. Simply visit the xoom.com website, enter sender information, how the money will be received, and the amount to be remitted. Then, choose a payment method – bank account, credit/debit card or PayPal – and click “send”. The money will be available in the Philippines in just minutes**. Xoom money transfer fees to the Philippines start at just $3.50*. Pinoys can send $300 to $2,999 for an affordable rate of $7.99 when paying with a US bank accounts.
“Cebuana Lhuillier adds considerable breadth to the Xoom.com reach.” said Gene Gutierrez, Xoom.com Regional Vice-President for the Philippines. “Cebuana Lhuillier is almost in every local township, so our services extend far and wide.”
Xoom.com also provides bank deposits to any bank in the Philippines, home delivery nationwide and over 3,000 cash pickup locations, many of which are open 24 hours a day, 7 days a week. For more information on Xoom money transfer services, please visit www.xoom.com or call 1-877-993-7966 for customer service in Tagalog. Recipients in the Philippines can call 1-800-10-636-7000 (PLDT) or 1-800-8-636-7000 (Globe). Customers can also send e-mail to Xoom customer service 24 hours a day, 7 days a week.
About Cebuana Lhuillier
The Cebuana Lhuillier Services Corporation (CLSC) is an affiliate of the P.J. Lhuillier Group of Companies; an organization managing and operating businesses in diverse industries including financial and insurance services; retail and trade; property and resort management; communications and information technology. Its core business is in pawnshop services, bannered by the Cebuana Lhuillier brand.
About Xoom
Xoom.com enables individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
*Xoom makes money on transactions involving foreign currency exchange based on the difference between the rate at which Xoom purchases foreign currency and the rate provided to you.
**The speed of transaction claim is dependent on good funds availability and approval by the Xoom proprietary verification system. It is subject to Xoom receiving agent hours of operation and difference in time zone, and may not be available for all transactions.
Xoom.com partners with Metrobank, BPI and BDO/EPCI
INQUIRER.net
Posted date: December 13, 2007
SAN FRANCISCO, CA, October 29, 2007 – XOOM.com, one of the fastest growing remittance companies to the Philippines, announced today strategic partnerships with Metropolitan Bank & Trust Co. (Metrobank), Bank of the Philippine Islands (BPI), and Banco de Oro/Equitable PCI (BDO/EPCI). These partnerships will revolutionize the way money can be sent to the Philippines – all with a click of a mouse.
Bank deposits that used to take days to send are now a thing of the past. They can be “Xoomed” (pronounced: “zoomed”) online to recipients’ accounts within hours, making the process convenient for both the sender and the receiver.
Established in 2001, XOOM Corporation built its business model around the power of the Internet. Bank deposits that used to take days can now be credited to the beneficiary’s Metrobank, BPI or EPCI account within hours through XOOM’s proprietary technology. Encryption is also used to make fund transfers safe and secure.
XOOM.com and METROBANK
XOOM.com and Metrobank have tied-up to provide faster bank deposits to the Philippines. With a click of a button, XOOM.com customers can deposit money to any Metrobank account and the money will be available to the recipient in just hours.
“Serving Filipino remitters is very important to Xoom. Our partnership with Metrobank will enable us to provide much faster deposits to Metrobank accounts and greater convenience to both senders and receivers,” said John Kunze, President and CEO of Xoom.
Metrobank is ranked amongst the top 300 banks in the world. Metrobank services the fund remittances of Filipinos worldwide including overseas contract workers.
XOOM.com and BPI
The tie up between the convenient Internet-based money transfer service of Xoom and BPI, ranked the Philippines’ number one bank in remittance volume, is a perfect alliance. Millions of overseas Pinoys can now send bank deposits directly to their loved ones BPI account with the simple click of a mouse. The money sent will be available to the recipient in just hours.
“As a kababayan, I know speed is the key. Pinoys prefer that money sent to loved ones gets to them fast. With XOOM.com, the money is in a BPI account within hours,” said Gene Gutierrez, XOOM.com Regional Vice President, Philippines.
Established in 1851, the Bank of the Philippine Islands (BPI) was the first bank in the Philippines and in Southeast Asia. BPI’s long and proud history boasts of many “firsts” in Philippine banking. BPI has distinguished itself by catering to the ever-evolving needs and lifestyles of the public.
XOOM.com and BDO (now merged with EPCI)
The tie-up between XOOM.com and Philippine banking giant BDO Remittance [that has recently merged with Equitable PCI bank (EPCI)] is designed to provide super fast remittances for bank deposits and cash pickups within minutes at all BDO-EPCI branches.
With a click of a mouse, money sent to any BDO*-EPCI account by XOOM.com customers will be available to the recipient in just hours. The super fast bank deposit within hours is provided through XOOM’s proprietary technology. (*Bank deposits within hours available at EPCI accounts currently. BDO coming soon)
XOOM.com in partnership with BDO and EPCI provides not only bank deposits at recipient’s BDO/EPCI bank accounts as well as cash-pick up within minutes at over 1800 agent locations which include the popular SM Malls and Cebuana Lhuillier pawn shop locations.
“We see a lot of opportunities in this partnership. The partnership with BDO will provide a more convenient remittance for our Filipino clients. BDO’s network offers faster transactions and more disbursement options for our customers,” said John Kunze, President and CEO, XOOM Corporation.
XOOM.com has been in partnership with Equitable PCI (EPCI) bank for the past three years. With the merger of two of the Philippines’ largest banks, Banco de Oro Universal Bank and Equitable PCI Bank (EPCI), BDO is now one of the Philippine’s top banks. As a result of the merger, the bank now offers an extensive nationwide reach commanding a network of more than 600 branches and over 1,200 ATMs in the Philippines.
“We live in a world where everyone wants instant gratification. Our customers demand that bank deposits take just a few hours – not days. XOOM.com meets that demand by taking advantage of the latest technologies to provide faster remittance services,” said Julian King, Senior Vice-President Marketing and Product.
XOOM’s money transfer fees start as low as $3.50. Senders can fund their transactions with their bank accounts, credit cards, debit cards or PayPal accounts. Recipients have the option of receiving their funds either in dollars or pesos.
The last year ushered in exciting growth for XOOM. It has more than doubled its cash pickup locations from 800 to 1,800 across major cities and remote provinces in the Philippines. SM Malls, EPCI Bank and Cebuana Lhuillier pawnshops are among the many places where money transfers can be conveniently picked up. As an added bonus, remittances can also be delivered door-to-door at no extra charge.
Money transfers with XOOM are easy. Simply log on to XOOM’s website at www.XOOM.com, enter sender and recipient information and the amount to be remitted. Next, select a disbursement method. Choose from bank deposits within hours, cash pick-up within minutes and home-delivery at no extra charge. Then, choose a payment method and click “send.” The money will be available quickly and conveniently to the receiver.
“I know that when I remit money to the Philippines, I like a reputable institution at the other end handling my transfer. Our partnerships with Metrobank, BPI and BDO/EPCI ensure a safe and convenient remittance process from start to finish. Bank deposits are fast and are credited in hours,” says Gene Gutierrez, XOOM.com Regional Vice-President, Philippines.
Executives from XOOM say that they are only scratching the surface. Exponential growth is in their forecast. And with XOOM.com’s unsurpassed products and services, the Filipino community will definitely love this radical change in remitting money to the Philippines.
ABOUT XOOM
XOOM.com allow individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. XOOM Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures. www.xoom.com.
Posted date: December 13, 2007
SAN FRANCISCO, CA, October 29, 2007 – XOOM.com, one of the fastest growing remittance companies to the Philippines, announced today strategic partnerships with Metropolitan Bank & Trust Co. (Metrobank), Bank of the Philippine Islands (BPI), and Banco de Oro/Equitable PCI (BDO/EPCI). These partnerships will revolutionize the way money can be sent to the Philippines – all with a click of a mouse.
Bank deposits that used to take days to send are now a thing of the past. They can be “Xoomed” (pronounced: “zoomed”) online to recipients’ accounts within hours, making the process convenient for both the sender and the receiver.
Established in 2001, XOOM Corporation built its business model around the power of the Internet. Bank deposits that used to take days can now be credited to the beneficiary’s Metrobank, BPI or EPCI account within hours through XOOM’s proprietary technology. Encryption is also used to make fund transfers safe and secure.
XOOM.com and METROBANK
XOOM.com and Metrobank have tied-up to provide faster bank deposits to the Philippines. With a click of a button, XOOM.com customers can deposit money to any Metrobank account and the money will be available to the recipient in just hours.
“Serving Filipino remitters is very important to Xoom. Our partnership with Metrobank will enable us to provide much faster deposits to Metrobank accounts and greater convenience to both senders and receivers,” said John Kunze, President and CEO of Xoom.
Metrobank is ranked amongst the top 300 banks in the world. Metrobank services the fund remittances of Filipinos worldwide including overseas contract workers.
XOOM.com and BPI
The tie up between the convenient Internet-based money transfer service of Xoom and BPI, ranked the Philippines’ number one bank in remittance volume, is a perfect alliance. Millions of overseas Pinoys can now send bank deposits directly to their loved ones BPI account with the simple click of a mouse. The money sent will be available to the recipient in just hours.
“As a kababayan, I know speed is the key. Pinoys prefer that money sent to loved ones gets to them fast. With XOOM.com, the money is in a BPI account within hours,” said Gene Gutierrez, XOOM.com Regional Vice President, Philippines.
Established in 1851, the Bank of the Philippine Islands (BPI) was the first bank in the Philippines and in Southeast Asia. BPI’s long and proud history boasts of many “firsts” in Philippine banking. BPI has distinguished itself by catering to the ever-evolving needs and lifestyles of the public.
XOOM.com and BDO (now merged with EPCI)
The tie-up between XOOM.com and Philippine banking giant BDO Remittance [that has recently merged with Equitable PCI bank (EPCI)] is designed to provide super fast remittances for bank deposits and cash pickups within minutes at all BDO-EPCI branches.
With a click of a mouse, money sent to any BDO*-EPCI account by XOOM.com customers will be available to the recipient in just hours. The super fast bank deposit within hours is provided through XOOM’s proprietary technology. (*Bank deposits within hours available at EPCI accounts currently. BDO coming soon)
XOOM.com in partnership with BDO and EPCI provides not only bank deposits at recipient’s BDO/EPCI bank accounts as well as cash-pick up within minutes at over 1800 agent locations which include the popular SM Malls and Cebuana Lhuillier pawn shop locations.
“We see a lot of opportunities in this partnership. The partnership with BDO will provide a more convenient remittance for our Filipino clients. BDO’s network offers faster transactions and more disbursement options for our customers,” said John Kunze, President and CEO, XOOM Corporation.
XOOM.com has been in partnership with Equitable PCI (EPCI) bank for the past three years. With the merger of two of the Philippines’ largest banks, Banco de Oro Universal Bank and Equitable PCI Bank (EPCI), BDO is now one of the Philippine’s top banks. As a result of the merger, the bank now offers an extensive nationwide reach commanding a network of more than 600 branches and over 1,200 ATMs in the Philippines.
“We live in a world where everyone wants instant gratification. Our customers demand that bank deposits take just a few hours – not days. XOOM.com meets that demand by taking advantage of the latest technologies to provide faster remittance services,” said Julian King, Senior Vice-President Marketing and Product.
XOOM’s money transfer fees start as low as $3.50. Senders can fund their transactions with their bank accounts, credit cards, debit cards or PayPal accounts. Recipients have the option of receiving their funds either in dollars or pesos.
The last year ushered in exciting growth for XOOM. It has more than doubled its cash pickup locations from 800 to 1,800 across major cities and remote provinces in the Philippines. SM Malls, EPCI Bank and Cebuana Lhuillier pawnshops are among the many places where money transfers can be conveniently picked up. As an added bonus, remittances can also be delivered door-to-door at no extra charge.
Money transfers with XOOM are easy. Simply log on to XOOM’s website at www.XOOM.com, enter sender and recipient information and the amount to be remitted. Next, select a disbursement method. Choose from bank deposits within hours, cash pick-up within minutes and home-delivery at no extra charge. Then, choose a payment method and click “send.” The money will be available quickly and conveniently to the receiver.
“I know that when I remit money to the Philippines, I like a reputable institution at the other end handling my transfer. Our partnerships with Metrobank, BPI and BDO/EPCI ensure a safe and convenient remittance process from start to finish. Bank deposits are fast and are credited in hours,” says Gene Gutierrez, XOOM.com Regional Vice-President, Philippines.
Executives from XOOM say that they are only scratching the surface. Exponential growth is in their forecast. And with XOOM.com’s unsurpassed products and services, the Filipino community will definitely love this radical change in remitting money to the Philippines.
ABOUT XOOM
XOOM.com allow individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. XOOM Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures. www.xoom.com.
Xoom.com Announces 24/7 Cash Pickup in the Philippines
INQUIRER.net
Posted date: February 26, 2009
SAN FRANCISCO, CA, February 2, 2009 – Xoom.com, the fastest growing online money transfer company, announced a partnership with M. Lhuillier to offer cash pickup at more than 1,000 locations in the Philippines. Many M. Lhuillier locations offer 24/7 service, allowing greater convenience for cash pickups. With 24/7 cash pickup money transfer, beneficiaries are no longer restricted by remittance center business hours. Recipients no longer have to miss work or rearrange the day in order to accommodate the errand of picking up money from outlets.
“Our partnership with M. Lhuillier reflects our commitment to provide even more convenient money transfer services to our Filipino customers.” said Julian King, Xoom.com Senior Vice President of Marketing and Corporate Development. “M. Lhuillier’s 24/7 network gives our customers the choice of picking up remittances on their schedule.”
M. Lhuillier brings to the Xoom.com network an additional 1,000 locations, raising the total number of Xoom locations in the Philippines to over 3,000. Not only are many of the M. Lhuillier locations open 24/7, most M. Lhuillier outlets also offer extended hours of service and are open evenings and weekends.
“We’re delighted with our partnership with Xoom.com.” said Michael Lhuillier, Vice President of M. Lhuillier. “Xoom.com’s online service allows sending money 24/7. It’s a perfect complement to receiving money transfers 24/7, as well. That’s round-the-clock service.”
24/7 convenience is not just for recipients who are picking up remittances. Round-the-clock services are also available for senders. Send money to the Philippines anytime by visiting xoom.com; enter sender information, how the money will be received, and the amount to be remitted. Then, choose a payment method – bank account, credit/debit card or PayPal – and click “send.” The money will be available in the Philippines in just minutes**. Xoom money transfer fees to the Philippines start at just $3.50*. Pinoys can send $300 to $2,999 for an affordable rate of $7.99 when paying with a US bank account.
“Xoom.com has always made sending money easy for kababayans, and now with M. Lhuillier’s 24/7 cash pickup, sending money is more convenient for all remittance needs – from regular remittances, to last minute cash situations and unforeseen emergencies.” said Gene Gutierrez, Xoom.com Regional Vice President for the Philippines. “M. Lhuillier shops are in almost every local township, making it very convenient for loved ones to pick up the money.”
Including the M. Lhuillier 24/7 locations, Xoom cash pickup service is available at over 3,000 locations across the Philippines. Xoom.com also provides bank deposits to any bank and home delivery nationwide. For more information on Xoom money transfer services, please visit www.xoom.com or call 1-877-993-7966 for customer service in Tagalog. Recipients in the Philippines can call 1-800-10-636-7000 (PLDT) or 1-800-8-636-7000 (Globe). Customers can also send e-mail to Xoom customer service 24 hours a day, 7 days a week.
About M.Lhuillier
The seeds to success for M. Lhuillier Philippines, Inc. were sown as far back as the 1930s. With a simple mission to ease the financial burden of Filipinos through money lending, M. Lhuillier has become a byword in service – the company that every Filipino can really rely on. Initially a money lender, it has since diversified to include money remittance, jewelry, insurance, courier, electronic loading, processed food products and a host of other allied services. Its domestic remittance service has been tested and proven in the industry. With an online system that connects all the branches in the network, money can be sent and received in any of its locations in just a few minutes. This truly earns M. Lhuillier the designation “Numero Uno ng Bayan.”
About Xoom
Xoom.com enables individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
*Xoom makes money on transactions involving foreign currency exchange based on the difference between the rate at which Xoom purchases foreign currency and the rate provided to you.
**The speed of transaction claim is dependent on good funds availability and approval by the Xoom proprietary verification system. It is subject to Xoom receiving agent hours of operation and difference in time zone, and may not be available for all transactions.
Posted date: February 26, 2009
SAN FRANCISCO, CA, February 2, 2009 – Xoom.com, the fastest growing online money transfer company, announced a partnership with M. Lhuillier to offer cash pickup at more than 1,000 locations in the Philippines. Many M. Lhuillier locations offer 24/7 service, allowing greater convenience for cash pickups. With 24/7 cash pickup money transfer, beneficiaries are no longer restricted by remittance center business hours. Recipients no longer have to miss work or rearrange the day in order to accommodate the errand of picking up money from outlets.
“Our partnership with M. Lhuillier reflects our commitment to provide even more convenient money transfer services to our Filipino customers.” said Julian King, Xoom.com Senior Vice President of Marketing and Corporate Development. “M. Lhuillier’s 24/7 network gives our customers the choice of picking up remittances on their schedule.”
M. Lhuillier brings to the Xoom.com network an additional 1,000 locations, raising the total number of Xoom locations in the Philippines to over 3,000. Not only are many of the M. Lhuillier locations open 24/7, most M. Lhuillier outlets also offer extended hours of service and are open evenings and weekends.
“We’re delighted with our partnership with Xoom.com.” said Michael Lhuillier, Vice President of M. Lhuillier. “Xoom.com’s online service allows sending money 24/7. It’s a perfect complement to receiving money transfers 24/7, as well. That’s round-the-clock service.”
24/7 convenience is not just for recipients who are picking up remittances. Round-the-clock services are also available for senders. Send money to the Philippines anytime by visiting xoom.com; enter sender information, how the money will be received, and the amount to be remitted. Then, choose a payment method – bank account, credit/debit card or PayPal – and click “send.” The money will be available in the Philippines in just minutes**. Xoom money transfer fees to the Philippines start at just $3.50*. Pinoys can send $300 to $2,999 for an affordable rate of $7.99 when paying with a US bank account.
“Xoom.com has always made sending money easy for kababayans, and now with M. Lhuillier’s 24/7 cash pickup, sending money is more convenient for all remittance needs – from regular remittances, to last minute cash situations and unforeseen emergencies.” said Gene Gutierrez, Xoom.com Regional Vice President for the Philippines. “M. Lhuillier shops are in almost every local township, making it very convenient for loved ones to pick up the money.”
Including the M. Lhuillier 24/7 locations, Xoom cash pickup service is available at over 3,000 locations across the Philippines. Xoom.com also provides bank deposits to any bank and home delivery nationwide. For more information on Xoom money transfer services, please visit www.xoom.com or call 1-877-993-7966 for customer service in Tagalog. Recipients in the Philippines can call 1-800-10-636-7000 (PLDT) or 1-800-8-636-7000 (Globe). Customers can also send e-mail to Xoom customer service 24 hours a day, 7 days a week.
About M.Lhuillier
The seeds to success for M. Lhuillier Philippines, Inc. were sown as far back as the 1930s. With a simple mission to ease the financial burden of Filipinos through money lending, M. Lhuillier has become a byword in service – the company that every Filipino can really rely on. Initially a money lender, it has since diversified to include money remittance, jewelry, insurance, courier, electronic loading, processed food products and a host of other allied services. Its domestic remittance service has been tested and proven in the industry. With an online system that connects all the branches in the network, money can be sent and received in any of its locations in just a few minutes. This truly earns M. Lhuillier the designation “Numero Uno ng Bayan.”
About Xoom
Xoom.com enables individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
*Xoom makes money on transactions involving foreign currency exchange based on the difference between the rate at which Xoom purchases foreign currency and the rate provided to you.
**The speed of transaction claim is dependent on good funds availability and approval by the Xoom proprietary verification system. It is subject to Xoom receiving agent hours of operation and difference in time zone, and may not be available for all transactions.
Sunday, June 28, 2009
Xoom.Com Unveils Tagalog Website For Pinoy
INQUIRER.net
Posted date: June 25, 2009
SAN FRANCISCO, CA, June 23, 2009 – Xoom.com, the fastest growing global online money transfer company, has announced the launch of its Tagalog website to make it even more convenient for its Filipino customers to send money to the Philippines.
"We have a firm commitment to provide the best service to the Filipino community. Having a Tagalog version of our website is the next step in this commitment," said Julian King, Xoom.com Senior Vice President of Marketing and Corporate Development.
Accessing the Xoom.com Tagalog website
Customers can go to Xoom.com and select Tagalog from the list of languages to access the website in Tagalog. With the help of simple instructions in Tagalog, sending and receiving money is now made even easier for both sender and receiver. Through the website, you and your loved ones can also track money transfers and find a remittance pickup location that’s close.
"Our goal is to make sending money easy for our fellow Pinoys,” said Gene Gutierrez, Xoom.com Regional Vice President for the Philippines. “We understand our countrymen’s needs."
A Commitment to the Filipino Community
In addition to a Tagalog website, Xoom provides help and assistance with customer service in Tagalog. For more information on Xoom.com money transfer services, please visit www.xoom.com or call 1-877-993-7966 for customer service in English or Tagalog. Recipients in the Philippines can call 1-800-10-636-7000 (PLDT) or 1-800-8-636-7000 (Globe). Customers can also send e-mail to Xoom customer service 24 hours a day, 7 days a week by visiting www.xoom.com/help.
Service in the Philippines
Xoom.com offers the option of cash pickup service available at over 5,000 locations across the Philippines, including many that are open 24/7. Xoom.com also provides fast bank deposits to ANY bank in the Philippines and home delivery nationwide.
About Xoom.com
Xoom.com enables individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
Posted date: June 25, 2009
SAN FRANCISCO, CA, June 23, 2009 – Xoom.com, the fastest growing global online money transfer company, has announced the launch of its Tagalog website to make it even more convenient for its Filipino customers to send money to the Philippines.
"We have a firm commitment to provide the best service to the Filipino community. Having a Tagalog version of our website is the next step in this commitment," said Julian King, Xoom.com Senior Vice President of Marketing and Corporate Development.
Accessing the Xoom.com Tagalog website
Customers can go to Xoom.com and select Tagalog from the list of languages to access the website in Tagalog. With the help of simple instructions in Tagalog, sending and receiving money is now made even easier for both sender and receiver. Through the website, you and your loved ones can also track money transfers and find a remittance pickup location that’s close.
"Our goal is to make sending money easy for our fellow Pinoys,” said Gene Gutierrez, Xoom.com Regional Vice President for the Philippines. “We understand our countrymen’s needs."
A Commitment to the Filipino Community
In addition to a Tagalog website, Xoom provides help and assistance with customer service in Tagalog. For more information on Xoom.com money transfer services, please visit www.xoom.com or call 1-877-993-7966 for customer service in English or Tagalog. Recipients in the Philippines can call 1-800-10-636-7000 (PLDT) or 1-800-8-636-7000 (Globe). Customers can also send e-mail to Xoom customer service 24 hours a day, 7 days a week by visiting www.xoom.com/help.
Service in the Philippines
Xoom.com offers the option of cash pickup service available at over 5,000 locations across the Philippines, including many that are open 24/7. Xoom.com also provides fast bank deposits to ANY bank in the Philippines and home delivery nationwide.
About Xoom.com
Xoom.com enables individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.
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