Visa Partners with PHLPost to render Financial services to the undeserved

Visa and the Philippine Postal Corporation (PHLPost) have established a collaboration to expand financial services and accessibility, especially for Filipinos in remote areas. This partnership seeks to update PHLPost's vital services, such as remittances, money orders for overseas Filipino workers (OFWs), and the allocation of important social welfare and disaster assistance funds.

Visa will provide its worldwide payment infrastructure and digital knowledge, improving transaction efficiency, strengthening security, and increasing accessibility.

A central aspect of this initiative, highlighted by Visa’s Country Manager for the Philippines and Guam, Jeff Navarro, is to alleviate the financial challenges encountered by OFWs, who are crucial in aiding families throughout the Philippines.

Additionally, the collaboration between Visa and PHLPost will enable micro, small, and medium enterprises (MSMEs) by improving financial literacy and business capabilities. Visa and PHLPost will exchange some of their best practices to develop more efficient, secure, and accessible financial solutions for individuals and businesses.

PHLPost, utilizing its vast nationwide network, will also incorporate digital payment solutions to enhance transaction efficiency and security, all while upholding strong governance.

A PHLPost representative emphasized that this collaboration is a vital move towards updating services and offering necessary financial resources to underprivileged communities.

By merging Visa's digital payment capabilities with the extensive reach of PHLPost, the initiative aims to promote a more inclusive financial ecosystem and services, greatly aiding OFWs and rural communities by lowering remittance costs and providing secure access to vital financial services.