Pouch has unveiled its latest app feature, “Send Globally,” aimed at simplifying money transfers from the Philippines to U.S. banks. The feature allows Pouch customers, including expats residing in the Philippines, to send Philippine pesos that will be paid out as U.S. dollars to recipients' U.S. bank accounts.
Ethan Rose, CEO of Pouch, emphasized the company's commitment to enhancing cross-border payments and promoting financial inclusivity, stating, "Enabling Send Globally for Pouch customers is a part of this. With Send Globally, there is no need to go to a physical bank branch to send from the Philippines to US bank accounts. Pouch.ph is accessible to Filipinos from all backgrounds."
The “Send Globally” feature offered by Pouch aims to provide users with fast and cost-effective transactions, with a reduced processing time of zero to three days compared to traditional methods that could take weeks. Additionally, the press release stated that the feature eliminates the risk of payment delays caused by intermediaries and offers competitive rates to enhance affordability for both businesses and individual users.
By leveraging the Bitcoin Lightning Network, Pouch said it aims to facilitate quick and inexpensive transactions, allowing users to send money with ease. Rose highlighted the significance of this collaboration, stating, "This collaboration represents 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 the Apple Store. Pouch said it plans to expand into more markets and establish partnerships with international entities to further enhance payment services worldwide.
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