Pearl Pay launches initiative to solve remittance problems in the Philippines | CryptoNews

Pearl Pay launches initiative to solve remittance problems in the Philippines | CryptoNews

Pearl Pay, a financial technology company that helps small banks, financial institutions and microenterprises (micro, small and medium enterprises) through its safe, popular and innovative banking services, now It is working to provide better remittance services to Filipino workers abroad (OFW).

The problem

At present, it is estimated that in the Philippines 2,500 million monthly payments, amounting to USD 74 billion (Php 3.76 billion). However, only one percent of these transactions are done electronically, while the remaining 99% is still in cash or in checks.

On average, a person in the Philippines takes 21 minutes to get to the point nearest access, such as money transfer agents or banks. The average round trip will cost around Php 43.00 (approximately USD 1.00). With transfer fees that average 11% (more than 3% greater than the overall average cost) to send money to the Philippines, the OFW and their families require a cheaper but convenient way to send and receive remittances.

How Pearl Pay will make a difference

Pearl Pay will change the relationship of electronic money and cash transactions to help people save time and money, even the "unbanked" can make transactions . Pearl Pay claims to be the Philippines National Payments Portal by providing world-class banking applications that are also affordable, designed to interconnect the entire banking and payments industry in the Philippines. Pearl Pay services will include sending national / international money, exchanging cryptocurrencies and innovative payment solutions.

About Pearl Pay

Pearl Pay is a FinTech company that offers world-class but affordable banking applications, designed to interconnect Filipinos and payment industries in the Philippines. Its Virtual Money Logistics System (VMLS) provides a " Mobile money transfer and payment platform as an integral service " of relevant design and suitable for the needs of people for real use and financial inclusion. The company continues to develop blockchain-based technologies and products to provide a holistic ecosystem that people around the world can use to facilitate their financial needs.

For more information, visit – www.
Get connected on Telegram –
Follow on Twitter –
See WhitePaper –
Know Team – company / pearlpay
Media Contact
Name: Precious Valerie Silva
E-mail: [email protected] / [email protected]