Neutronpay And Pouch.ph Partner To Offer Affordable Remittances For Canada And Vietnam Using Lightning
neutronbaya Canada-based digital payment platform, has partnered with Satchel To provide fast and affordable remittance services to Filipinos living in Canada and Vietnam. According to a press release sent to Bitcoin Magazine, the partnership aims to provide a secure and cost-effective solution for Filipino expatriates who want to send money to their loved ones in the Philippines. Leveraging Bitcoin’s Lightning Network, the partnership makes it possible to convert Canadian dollars or Vietnamese dongs into bitcoin, which is then converted into Philippine pesos and transferred directly to the recipient’s bank account or mobile money account.
Albert Bowe, Founder and CEO of Neutronpay, expressed his excitement about the collaboration, saying, “Our integration with the Bitcoin Lightning Network is a huge step forward in improving the lives of our customers, and we look forward to exploring new ways to innovate across borders in payments.”
Demand for remittances to the Philippines is growing steadily, with personal remittances reaching a record high of $36.14 billion in 2022, according to data from Banko Sentral ng Pilipinas. Canada accounted for 3.6% of all remittances to the Philippines, highlighting the importance of providing efficient and cost-effective remittance services to the Filipino community in Canada.
Pouch CEO Ethan Rose emphasized the importance of the partnership in enabling OFWs to easily send money back home. He stated, “Working with Neutronpay aligns with our endeavors to enable OFWs to easily send money back to their families and loved ones.”
The NeutronPay app is currently available exclusively on Canadian and Vietnamese app stores, while the Pouch.ph app can be downloaded from the Google Play Store and Apple Store. This collaboration between Neutronpay and Pouch.ph provides ultra-fast remittance services for Filipinos in Canada and Vietnam, providing a convenient and cost-effective way to support their families and loved ones back home in the Philippines.
