Cebuana Lhuillier, the country’s leading microfinancial services provider, added Tempo France’s Money Transfer to its list of international remittance partners to further advance its cross-border payment service.
Supported by Stellar Network’s backend blockchain payment facility, Tempo is a European-based digital payment platform that ensures fast, seamless, and secure money transfer transactions. As the money transfer business in the Philippines continues to grow, Cebuana Lhuillier ventures into the blockchain system to provide improved and hassle-free payouts to its customers anywhere in the country.
Clients may now send money via over the counter at 300+ Tempo agents, or through the Tempo App. Through Cebuana Lhuillier’s more than 3,000 owned branches, clients can also receive remittances through Cash Pick-up. Alternative payouts are also available, such as Remit-to-Account for remittances direct to Philippine Bank accounts and e-wallets.
“The Philippines’ remittance industry is ever-evolving, especially with the growing population of our Overseas Filipino Workers (OFWs),” said Cebuana Lhuillier President and CEO Jean Henri Lhuillier. “This means that reliable options to send their hard-earned money will always be a necessity to our kababayans abroad, as well as their families here in the Philippines.
“Cebuana Lhuillier’s continuous push for partnerships would allow our clients to have access to their funds and enable more Filipinos to be financially included.”
“It is the start of a very important project. We will give people yet another degree of convenience, which is very important for Filipinos, who live and work overseas, to be able to send money to their families and loved ones,” said Tempo France CEO Alla Zhedik.
Cebuana Lhuillier extends access through strategic partnerships in their commitment to further innovating of helping grow through the provision of relevant and accessible financial solutions. The company provides services from those partnered businesses to make sending money to loved ones quicker and more convenient.
Armenotech, a fintech company based in Cyprus, plays a key role in integrating Cebuana Lhuillier’s IT infrastructure into the Stellar platform.
“Technologically, Armenotech will successfully cope with the task. Speed, reliability, and low costs for all parties are the priorities,” said Armenotech CBO Daniel Gazaryan.