- Wise launches accounts, prepaid card in Philippines for fee-free remittances.
- Services enable multi-currency holding, local bank transfers, international spending.
- Targets remittance market worth $37.2B in 2023.
Wise, the global payments major, unveils its Wise Account and prepaid card in the Philippines, addressing a market where 73% of individuals still rely on traditional platforms for international money transfers.
This strategic move aims to empower Filipinos by providing transparent, fee-free foreign payment services.
Transfer triumph for Filipino funds
Through these offerings, users can receive foreign payments without charges, hold funds in over 40 currencies, transfer money to local bank accounts or supported digital wallets, and seamlessly spend abroad in more than 160 countries.
Managing transactions becomes a breeze via Wise’s user-friendly website and mobile app.
Remittance warriors rejoice
Wise Philippines, helmed by Country Manager Areson Cuevas, targets diverse user groups, including freelancers, international students, travelers, and relatives of overseas workers.
This addresses a potentially vast market, given the record-high $37.2 billion in personal remittances received by the Philippines in 2023.
With plans to introduce more funding options through bank transfers and e-wallets, Wise reinforces its global mission to eliminate unfair exchange rates and hidden fees.
Operating in over 50 countries, the company boasts an impressive 10 million customers worldwide and a robust presence in Southeast Asia, including Indonesia, Malaysia, Singapore, and Thailand.
To read the original article: https://www.techinasia.com/wise-introduces-accounts-service-prepaid-card-philippines
