GCash now receives remittances from Filipinos based in Japan

GCash has partnered with and integrated PayForex, a Japanese fund transfer platform, allowing overseas Filipinos to transfer money to GCash.

GCash app

Pinoys in Japan can remit to GCash Wallets

PayForex is an online overseas remittance service operated by Tokyo-based fintech firm Queen Bee Capital Co., Ltd. It is a registered fund transfer provider in Japan, and it enables 24/7, low-fee transfers from Japan to over 200 countries in 40+ currencies that target foreign workers, students, and businesses.

Under this partnership, Filipinos overseas no longer need to visit a remittance center to send money home. 

This also allows Filipinos in Japan to cash in or add money to their own GCash wallets using either their Japan '+81' mobile numbers or Philippine '+63' mobile numbers. As a result, Filipinos can pay for goods with GCash in Japanese Convenience stores.

Funds are supposedly to be credited within seconds (up to PHP 500,000 per transaction).

PayForex does charge a tiered flat sender's fee.

GCash and PayForex claim that many Filipinos in Japan already have their Japanese bank accounts connected to PayForex, making this process familiar and convenient.

This move is one of the many improvements GCash has been rolling out for overseas users users including allowing users to hold US Dollars directly in their wallet.

What do you guys think?

Source: ABS-CBN