UNITELLER Philippines partnered with Universal Storefront Services Corp. (USSC) to further expand their cash pickup locations for remittances.
“With USSC being one of the largest one-stop shops in the Philippines and with stores located strategically across the country, the partnership increases the accessibility of remittance collection for customers,” Noel C. Cristal, president of UniTeller Philippines, said in a statement.
The partnership will add 1,491 USSC pickup locations, expanding UniTeller’s physical touch points to about 20,000 across the country.
USSC also has an e-wallet app which allows customers to manage their transactions, reducing the waiting time needed to receive or send a remittance.
“Our partnership with UniTeller shows our determination to help Filipinos here and in the US with their financial needs by offering services that goes beyond just remittances” USSC President Jose Xavier Gonzales said.
Remittances are an important lifeline for the Philippines as it fuels household consumption, which makes up 70% of the economy.
The US, which is the main market of UniTeller, is the biggest remittance source for the Philippines.
“As remittances continue to remain resilient in the Philippines, our partnership with USSC allows us to form an even more efficient distribution network,” UniTeller Chief Executive Officer Alberto Guerra said.
Latest central bank data showed cash remittances increased by 2.4% year on year to $2.812 billion in October, the biggest inflows in three months or since the $2.853 billion in July. This brought remittances to $25.929 billion in the 10-month period, up by 5.3% from a year earlier. — Luz Wendy T. Noble