Remittance is the lifeblood for most small and middle-income families in rural areas. On a micro-level perspective, having cash at hand provides a sense of security amid the easing of lockdowns, travel bans, and physical distancing protocols that disrupted national economic activities.
Cebuana Lhuillier widens domestic accessibility of remittance services with TrueMoney
Addressing the significant 31.2 percent of cities and municipalities without banking presence1, Cebuana Lhuillier expands its reach by tapping TrueMoney’s 20,000-wide network of sari-sari stores in the country. Integrating Cebuana Lhuillier’s Pera Padala service with partner TrueMoney community stores, customers can now receive money easier, quicker, and safer without having to worry about commuting to convergence zones.
“Our thrust in Cebuana Lhuillier is to always push for financial inclusion for every Filipino. One of the ways we do that is to ensure that they have access to much-needed financial services anytime, anywhere they may be. The partnership with TrueMoney underlines this commitment to pursuing accessibility for all. This also serves as a testament of Cebuana Lhuillier’s continuous efforts to increase its nationwide reach, and we are proud to be able to achieve this further through this partnership with TrueMoney,” enthused Jean Henri Lhuillier, president, and CEO of Cebuana Lhuillier.
Over the years, Cebuana Lhuillier has evolved from a humble pawnshop to becoming the leading micro-financial services provider in the industry. The partnership with TrueMoney ensured that concerns on limited mobility or accessibility, especially during emergencies including the recent nationwide lockdown due to pandemic, are addressed. Since Cebuana Lhuillier’s 2,500-strong Pera Padala service supports domestic transactions in real-time, recipients can claim the money as soon as the sender completes the process.
Cebuana Lhuillier and TrueMoney assure the presence of financial services in local communities. The partnership empowers the underserved to have control of their financial situation.
“As Cebuana Lhuillier’s domestic payout partner, we are closer to our goal of financial inclusion where no Filipino gets left behind.” Eugene Go, Chief Executive Officer & Country Managing Director, TrueMoney Philippines shared. “With this partnership, we continue to reinforce our commitment [to] helping our kababayans in sending their hard-earned money to their families and loved ones.”
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As a leading payment and remittance network, it is one of the many wins for TrueMoney in furthering its service to the Filipino family.
Footnotes
- Bangko Sentral ng Pilipinas (2019). Financial Inclusion in the Philippines Dashboard. Retrieved from this link.
