MoneyGram partners with BPI Bank
MoneyGram has partnered with Bank of the Philippine Islands (BPI) to allow overseas foreign workers to send money directly to BPI bank accounts “within minutes”.
“According to the World Bank, digital transaction platforms are driving financial inclusion in emerging markets around the globe,” says Alex Lim, regional manager for Philippines at MoneyGram.
“This partnership demonstrates MoneyGram’s commitment to providing our customers with a seamless experience through our innovative money transfer technology.”
Bank of the Philippine Islands, locally known as BPI, is the Philippines’ first bank. It is the country’s largest bank in terms of market capitalization.
“Our partnership with BPI coupled with a new convenient way to receive money directly to a bank account will certainly support our OFW customers in achieving their goals and fulfilling their families’ dreams,” added Lim.
The partnership strengthens MoneyGram’s digital footprint in the Philippines, which is one of the world’s largest remittance markets. According to the World Bank, in 2015 over US$28 billion flowed into the Philippines, accounting for 9.6 per cent of the country’s GDP.
MoneyGram is a global provider of money transfer and payment services, operating online through mobile devices, at kiosks or in retail stores.