(Manila, Philippines) April 5, 2019 – Mobile crypto and peso wallet Coins.ph and leading money transfer firm Western Union announce a collaboration that will allow Western Union money transfers directly into Coins.ph wallets in the Philippines.
With a presence in more than 200 countries, Western Union facilitates money remittances from abroad to its Philippine branches and partners. As a new partner, Coins.ph is a convenient online wallet to receive such cash. Aside from its cash out partners like Palawan Pawnshop and Security Bank, the mobile wallet also has built-in support to facilitate e-payments.
This means once a user receives a money transfer from Western Union, the user can immediately use that electronic money to pay for utilities, mobile load, credit card bills, etc directly on the app.
Fees can be further reduced as well if, for example, the user only has to withdraw an amount that does not include payment for utilities, bills, etc because they have already paid those within the app.
“By pairing Coins.ph’s payments technology with Western Union’s expansive global network, we are giving Filipinos a seamless choice to receive money digitally, on the go,” said Ron Hose, co-founder and CEO of Coins.ph
Additionally, Mr. Hose recognizes that there are around 10 million Filipinos working abroad. “With this collaboration, we are proud to serve their families back home with even easier access to our suite of services and maximize positive impact on communities in the country,” he added.
The collaboration is poised to ensure that more Filipinos will have quick and convenient access to remittances, especially those not in the metro.
“With this collaboration with Coins.ph, we are delighted to offer customers in the Philippines with an unmatched depth of services and capabilities, and convenience right at their fingertips.” – Molly Shea, Molly Shea, Senior Vice President & General Manager, Global Money Transfer, Asia Pacific at Western Union.
Any Coins.ph user can receive Western Union Money transfers by inputting the unique tracking number and the remittance amount to be expected. As per regulation, a Coins.ph wallet has the capacity to receive up to Php 100,000 per month.
Coins.ph is a crypto and peso mobile wallet that, among other things, allows users to store and receive electronic money to pay for utilities, bills, credit cards, etc. As a crypto wallet, it supports bitcoin, bitcoin cash, ethereum, and XRP. Coins.ph previously announced having 5 million users. Recently, Indonesia’s ride-hailing startup Go-Jek acquired a majority stake on Coins.ph.
Western Union has a large retail business in the Philippines – 12,000 locations in the country. Partnering with Coins.ph means users receiving money doesn’t need to fall in line to receive them from an outlet. Techcrunch confirms, however, that Western Union fees will remain. Still, Mr. Hose said to the publication that he believes their deal is valuable to both businesses and to consumers in the Philippines.
This story first appeared on BitPinas: Your Coins.ph Wallet Can Now Receive Western Union Money Transfers