xrpl.bz
Cebuana Lhuillier, a prominent microfinance service provider in the Philippines, is expanding its international money transfer offerings by collaborating with Tempo France, a digital payment platform powered by the Stellar Network blockchain. This partnership is part of Cebuana Lhuillier's efforts to improve and streamline its cross-border payment services, catering to the needs of its customers both locally and abroad.
Enhanced Money Transfer Services
Tempo, supported by the Stellar Network blockchain, offers a European digital payment platform that facilitates quick, seamless, and secure money transfer transactions. As the business of money transfers in the Philippines continues to grow, Cebuana Lhuillier is integrating blockchain technology to provide enhanced and hassle-free payouts to its customers across the country.
Customers now have the option to send money through over 300 Tempo agents or via the Tempo mobile app. Additionally, at 3,000 Cebuana Lhuillier branches, customers can receive money transfers through Cash Pick-up. Alternative payout methods, such as Remit-to-Account for direct transfers to Philippine bank accounts and e-wallets, are also available.
Meeting the Needs of Overseas Filipino Workers (OFWs)
“The money transfer industry in the Philippines is constantly evolving, especially with the increasing number of overseas Filipino workers (OFWs),” noted Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier. “This means that reliable options for sending their hard-earned money will always be essential for our citizens abroad and their families here in the Philippines.”
“Alla Zhedik, CEO of Tempo France, added, “This is the start of a very significant project. We will provide people with yet another level of convenience, which is crucial for Filipinos living and working abroad, so they can send money to their families and loved ones.”
Expanding Access through Strategic Partnerships
Cebuana Lhuillier aims to broaden access through strategic partnerships, striving for further innovations and facilitating growth by offering relevant and accessible financial solutions. The company leverages the services of partner companies to make sending money faster and more convenient.
Armenotech, a fintech company based in Cyprus, plays a pivotal role in integrating Cebuana Lhuillier's IT infrastructure into the Stellar platform.
“Armenotech is well-equipped to handle the technological task at hand. Speed, reliability, and cost-effectiveness for all parties involved are our top priorities,” said Daniel Gazaryan, Director of Armenotech.
