Coins.ph users can now receive Western Union money transfers
MANILA, Philippines – Local digital wallet startup Coins.ph partnered with cross-border money transfer firm Western Union, in a bid to allow users to receive money directly through its app.
In a statement late Wednesday, April 3, Coins.ph announced the integration with Western Union.
"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," Coins.ph co-founder and chief executive officer Ron Hose said.
Money sent through Western Union can be claimed in 3 ways: picked up through a branch, credited to a bank account, or loaded into a mobile wallet.
With this partnership, Coins.ph users only have to cash-in the Western Union money transfer through the app by entering the tracking number. Funds are instantly loaded into the account and can be immediately used for transactions.
Those interested to receive remittances through the app will have to register first for Coins.ph wallet, submit a valid ID, and complete the firm's verification process. After that, they can easily cash-in remittances.
"Filipinos worldwide and at home work hard and send money to help their families and to make a positive change within their own communities. Through our digital services, we are connecting more people than ever before," Western Union Philippines director Jeffrey Navarro said.
"Our collaboration with Coins.ph will provide flexibility and convenience for customers right at their fingertips," he added.
Customers can receive up to P100,000 a month in Western Union remittances.
Coins.ph started out as a cryptocurrency exchange involved in buying and selling cryptocurrencies, and then evolved into a suite of payments services.
It earlier said that it has over 5 million registered customers in 5 years of operations, processing over 6 million transactions per month. (READ: Coins.ph, GCash, GrabPay, PayMaya: Who’s leading the mobile payments war in PH?)