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TEL · 20w

Telcoin's digital remittance service extends coverage to 15 new markets

Pending ongoing partnership integrations, Telcoin users in additional sending markets - including the United States, Singapore, and Australia - will soon be able to send money to loved ones in these newly launched corridors as well.

In addition to GCash, Telcoin's inaugural remittance partner in the Philippines, users can now send money to the following countries and mobile money platforms:

Bangladesh, BKash Ethiopia, HelloCash Fiji, Digicel Mobile Money Fiji, M-Paisa Ghana, MTN Money Guatemala, Tigo Money Indonesia, Dana Indonesia, GoPay Indonesia, LinkAja Indonesia, Ovo Kenya, Equitel Money Sri Lanka, Ez Cash Sri Lanka, mCash Malawi, Airtel Money Nepal, eSewa Pakistan, Easy Paisa Pakistan, Jazz Cash Philippines, Coins El Salvador, Tigo Money Tonga, Digicel Mobile Money Uganda, Airtel Money Uganda, MTN Money Samoa, Digicel Mobile Money

With the global average cost of sending a US$200 remittance still high at 6.5 percent in the fourth quarter of 2020, Telcoin is targeting just 2.5 percent or less for its contactless and compliance-focused service.

"Opening these initial corridors is an exciting and important foundational moment in Telcoin's journey," said CEO Paul Neuner. "We see this as not only about affordable remittances, but as a first step toward expanding the financial opportunities of people in these new markets."

The launch of these new corridors coincides with the Telcoin Application's V2.3 update, which introduces a new innovation to the remittance market that the company has coined "Active Beneficiary." In a traditional remittance, the recipient of funds must communicate a preferred destination to the sender - whether they want the inbound transfer to land in their bank account, e-wallet, as cash that can be picked up at a physical agent, and so on. Telcoin is eliminating this communication step and streamlining the remittance flow by allowing the beneficiary to decide where the funds will go. Th...

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