Sendwave teamed up with mobile wallet GCash to allow Filipinos around the world to send money to their loved ones in the Philippines with zero remittance fees and near instantaneous transfers.
Dan Santos, Sendwave growth manager for the Philippines, said the partnership aimed to help overseas Filipino workers and their families make the most of their hard-earned money by offering remittances with zero transaction fees and very reasonable exchange rates.
“The pandemic revealed a need to shift toward more digital options for sending money. We wanted to help address that for the Filipino community and provide them with a more affordable way to send funds to the people they care about,” Santos said.
Santos estimated that OFWs could save over a $1 billion in remittance fees each year from using the Sendwave app. “The pandemic was a very unstable time for many overseas Filipino workers, so we wanted to make sure as much of their money as possible is getting to their families, and in the quickest way possible,” he said.
“Through the Sendwave app, OFWs can securely send money back home directly to a family member’s GCash app—without the need to fill out forms, line up or leave to go to a bank or remittance center,” Santos said.
Sendwave works by partnering with traditional money transfer methods, like bank transfers or cash collection, as well as digital wallets like GCash.
“Digital wallets are really the future, because they are able to quickly and affordably link people around the world, especially in areas where people have not had as much access to traditional banks,” Santos said.