Western Union, a global leader in payment services, said it remains bullish on the outlook for remittances in the Philippines.
Jeffrey de Venecia Navarro, country director for Western Union Philippines, said in a news briefing in Makati Thursday the outlook for the industry remained promising especially in the fourth quarter when the volume of remittances was expected to increase.
“We are optimistic of growth this year and we are happy if the numbers go high because everyone benefits, especially the families in the country of OFWs abroad,” Navarro said.
Western Union teamed up with LBC Express Holdings Inc., the country’s market leader in retail and corporate courier and cargo, money remittance and logistics services. LBC has a network in over 30 countries.
Navarro said the partnership expanded its retail network in the Philippines with the addition of more than 1,200 LBC branches, which would now pay out money transfers received from more than 200 countries and territories. Western Union had 5,900 agent locations across the Philippines as of June 2017.