Pouch unveiled the app’s newest feature, “Send Globally,” aimed at simplifying money transfers from the Philippines to US banks. The feature allows Pouch customers, including expats living in the Philippines, to send Philippine pesos payable as US dollars to recipients’ US bank accounts.
Ethan Rose, CEO of Pouch, highlighted the company’s commitment to enhancing cross-border payments and promoting financial inclusivity, saying, “Enabling Send Globally for Pouch customers is a about it. With Send Globally, there is no need to go to a physical bank branch to send from the Philippines to US bank accounts. Pouch.ph is accessible to Filipinos from all backgrounds.”
The “Send Globally” feature offered by Pouch aims to provide users with fast and efficient transactions, with a reduced processing time of zero to three days compared to traditional methods that can many weeks. In addition, the press release states that the feature eliminates the risk of payment delays caused by intermediaries and offers competitive prices to improve affordability for businesses and individual users.
By using the Bitcoin Lightning Network, Pouch said it aims to facilitate quick and cheap transactions, allowing users to send money with ease. Rose highlighted the importance of this collaboration, saying, “This collaboration represents an important milestone in our mission to provide seamless, affordable, and secure cross-border payment solutions to Filipinos. “
To access the feature, users can download the latest version of the Pouch.ph app, which is available on Google Play and the Apple Store. Pouch said it plans to expand into more markets and establish partnerships with international entities to further improve payment services around the world.