Landbank taps iRemit for OFW cash card

iRemit Inc., the country’s biggest Filipino-owned, non-bank remittance company, has teamed up with state-run Land Bank of the Philippines for the distribution of the Landbank OFW Cash Card.

“This agreement with Landbank will further strengthen our already established cash card services. It also brings convenience to our customers because of the bank’s geographically dispersed branches particularly in the provinces and remote areas in the country,” iRemit chairman and chief executive officer Bansan Choa said.

iRemit said the partnership will help them reach more Filipinos working overseas because Landbank has been catering to Filipinos worldwide.

Choa said that aside from Landbank’s wide reach, it also has modern banking facilities. Landbank is one of the top five commercial banks in the country with 343 branches nationwide.

For her part, Landbank president and CEO Gilda E. Pico said the tie up would help more Filipinos since it would make remittance easier and more affordable.

“With this new partnership, we will be able to bring the OFW Cash Cards to more Filipinos overseas and allow them, as well as their families and beneficiaries in the Philippines, to use this reliable and affordable remittance channel,” Pico noted.

Under the agreement, iRemit will distribute the OFW Cash Cards using its extensive network in Asia Pacific, Europe, the Middle East and North America.

The Landbank OFW Cash Card is an electronic debit card that can be linked to a Smart mobile phone and serve as a safe, fast and affordable remittance channel.

Meanwhile, Choa said iRemit will be establishing more partnerships with other banks and financial institutions to further improve remittance service. He said iRemit will strengthen its business through strategic tie-ups in order to provide better remittance collection.

“iRemit places high priority in improving its products and services for the convenience of the OFWs and their families,” he explained.

iRemit operates in 25 countries and territories through its wholly owned subsidiaries, partners and tie-ups.

It has revolutionized the remittance industry by employing the latest IT technology utilizing the Internet platform, making it possible to cut down the usual remittance period to as short as several minutes up to one week, depending on the area and the chosen service mode.