PERA HUB brings in Digital Remittance Platform for businesses in PH!

PERA HUB introduced its award-winning Digital Remittance Platform in PH. It will give businesses access to a global network of financial services.

PERA HUB now has Digital Remittance Platform here in the Philippines

PERA HUB's Digital Remittance Platform now in the Philippines

From January to July 2022, remittances from Filipinos living abroad totaled USD 3.24 billion, up 2.3 percent from the previous year, according to the national bank. The BSP also reported that over the same time frame, the combined value of transactions made through InstaPay and PESONet was over PHP 5.37 trillion, up 43 percent from 2021.

While these could be attributed to the increase in the number of financial and remittance services, these also caused more problems specifically for businesses: the hassle of connecting with multiple networks and providers, as well as the inefficient and painstaking process to complete the integration.

PERA HUB is proposing its most recent innovation as a solution: the Digital Remittance Platform, or DRP. PERA HUB has approximately 25 years of experience in the remittance market, a well-established network through partnerships, and over 3,500 physical sites around the country.

PERA HUB DRP is the first combined, single API platform in Southeast Asia that enables various companies to connect and integrate with a network of retail and over-the-counter partners, major Philippine banks, remittance businesses, digital wallets, and even emerging fintech. The BSP-regulated platform is supported by an up-to-date, secure API developer portal that makes it simple to connect to PERA HUB's network of financial services using the Open API standard.

The DRP is best suited for businesses with digital communities looking to offer dependable and scalable financial services as well as businesses in the financial services industry looking to quickly expand their distribution channels through PERA HUB's physical network and digital community partners.

The Asian Technology Excellence Awards presented by the Asian Business Review were recently given to this innovation. The Philippines Technology Excellence Award for Fintech-Remittance was granted to PERA HUB DRP for its "technology revolution and digital transformation."

PERA HUB has been providing outstanding convenience and choice for Filipinos for more than 20 years, making financial things simple. PERA HUB DRP has been completely integrated into a number of remittance companies in addition to Western Union, including Remitly, Uniteller, Japan Remit, Instant Cash, and Sendah Remit. It will also be used in fintech products and online banking applications from UnionBank, DiskarTech, and AllEasy.

What do you guys think?