iRemit is coming on strong this year. Lately, I’ve been seeing many articles about iRemit on the papers and in online news.
From Business World Online:
STATE LENDER Land Bank of the Philippines has tapped listed remittance firm iRemit, Inc. as distributor of its OFW Cash Card, which serves as another channel for Filipinos working abroad to send their hard-earned money back to their families in the Philippines.
iRemit, in a disclosure to the stock exchange yesterday, said it has entered into a general remittance agreement with Landbank, which requires it to promote and distribute the OFW Cash Card.
Gilda E. Pico, Landbank president and chief executive, in a statement said the agreement will widen the bank’s distribution network for the cash card — a “reliable and affordable remittance channel.”
This Landbank cash card distribution by iRemit is a good development. This makes remittances more accessible to more and more Filipinos. Beneficiaries will be able to withdraw their remittance more easily through ATMs.
I’m seeing many remittance service providers consolidating services. For example, apart from iRemit’s recent partnership with Landbank (which has its own remittance service), iRemit also has a tie-up with Smart Padala and G-Cash for SMS remittances. This trend of service consolidation will strengthen the remittance infrastructure of the Philippines.
When remittance services come together, it’s like building stronger and wider remittance “bridges” to better serve OFWs and their families.
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