Fintech firm BayaniPay is bringing a unique solution to a unique target audience within and beyond the United States.
BayaniPay is set to provide a platform for fast and seamless cross-border banking via its web app, which will allow Asian Americans to send back money to cater to their families and communities in their country of origin.
Asian Americans make up 25% of the foreign-born labor force in the United States. Before now, these hardworking individuals have depended on middleman agencies that are too expensive and processes that are too difficult and time-consuming to send money back home.
They are also largely deprived of access to other banking offerings such as loans, investments, and so on.
“With BayaniPay, we are delivering accessible, affordable, and secure financial services to global professionals, starting with more convenient and fairer-priced remittances. We will initially serve the Filipino-American community in the U.S., and we look forward to extending our borderless banking services to the broader Asian American community,” said Winston Damarillo, CEO of BayaniPay.
BayaniPay is partnering with is BDO Unibank, the largest lender in the Philippines to drive this new and innovative offering. Transactions facilitated through BayaniPay’s platform can be withdrawn by the receiving party from any of BDO Unibank’s 1,400 branches, 4,400+ ATMs, and 8,000+ certified quick cash agents.
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