Western Union has teamed up with Cebuana Lhuillier to launch digital money transfers to enable customers to receive and send money transfers via the Cebuana Lhuillier Mobile App - eCebuana (or eCeb) with an embedded micro-savings account.
Receivers in the Philippines have the choice to direct a Western Union international money transfer directly into the eCebuana app (available for iOS and Android) 24/7 as an alternative to retail pick-up. The opportunity to send money locally or globally will roll out early next year. This service expansion follows the recent launch of Western Union services enabling customers to send and receive money at over 2,500 Cebuana Lhuillier locations in the Philippines.
Recipients can now opt to receive their remittances through the eCebuana app in just three easy steps: eCebuana users need to select receive money service, choose Western Union, and input the MTCN. Western Union remittance will automatically be credited to their micro-savings account after submitting the required information and successfully inputting the OTP provided through SMS.
With a Micro Savings account, customers can pay cashless using their 24K Debit card at any of the accredited retail stores or withdraw funds from 21,000 ATMs nationwide. They can also opt to use the funds for various in-app services, including bills payment, load purchases, direct remittances to other Micro Savings accounts, a Cebuana Lhuillier branch, or any different bank account.
Head of Network, Philippines, Malaysia, Brunei & Indochina, Western Union, Jeffrey Navarro, said, "Facilitating convenient access for customers is of utmost importance for Western Union."
"Through this partnership, we are bringing new and innovative ways to receive and send money across the Philippines. We are excited to expand our suite of services with Cebuana Lhuillier, offering exceptional coverage and proximity, serving both online and offline while giving customers peace of mind with reliable and regulated access to money transfer services."
"Following the successful launch of Western Union services at our retail locations, we are now excited to roll out a digital solution for convenient money transfers in the Philippines," said Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier.
"Our shared ambition is clear: to make it easier for customers to move money with reliability and ease, and for that, we are continually innovating, increasing the ways customers can move funds for cross-border money transfers, and ensuring that we are one step ahead to meet their changing needs. This is still in line with our commitment of bringing financial inclusion and financial mobility to every Filipino."
Philippines in focus
GDP: $361.49 billion in 2020 compared to $376.823 billion in 2019
Population: 109,581,085 in 2020 compared to 108,116,622 in 2019
GDP per capita: $3,298 in 2020 compared to $3,458 in 2019
