Pouch has unveiled its latest app feature, “Send Globally,” which aims to streamline money transfers from the Philippines to US banks. This feature allows Pouch customers, including expatriates residing in the Philippines, to send Philippine pesos to be paid in US dollars to the US bank accounts of recipients.
Ethan Rose, CEO of Pouch, emphasized the company’s commitment to advancing cross-border payments and promoting financial inclusion, saying, “Enabling sending globally for Pouch customers is part of this. With Send Globally, there is no need to go to a bank branch to send from the Philippines to accounts Pouch.ph can be accessed by Filipinos of all backgrounds.”
Pouch’s “Send Globally” feature aims to provide users with fast and cost-effective transactions, while reducing processing time from zero to three days compared to traditional methods that can take weeks. In addition, the press release stated that the feature eliminates the risk of payment delays caused by intermediaries and offers competitive pricing to enhance affordability for both businesses and individual users.
By leveraging the Bitcoin Lightning Network, Pouch said it aims to facilitate fast and inexpensive transactions, allowing users to send money with ease. Rose highlighted the importance of this collaboration, saying, “This collaboration marks a significant milestone in our mission to provide seamless, affordable, and secure cross-border payment solutions to Filipinos.”
To access the feature, users can download the latest version of the Pouch.ph app available on Google Play and Apple Store. Pouch said it plans to expand into more markets and forge partnerships with international entities to further enhance payment services around the world.