Partnership brings real-time, low cost money transfer services to the Philippines
Hong Kong, 20 January 2017 – OKLink, the blockchain-powered global settlement network, and Ayannah, the Philippines’ leading digital payment service provider, have signed a partnership agreement today to provide real-time remittance to the Philippines via cash, bank accounts or e-wallet.
Powered by Blockchain, OKLink’s settlement platform currently allows transfer companies worldwide to send money to the Philippines for only 0.5%, a rate that is significantly lower than incumbents. The partnership allows all 100+ companies on the OKLink network to make transactions within the same day to bank accounts; within 4 hours to cash pick-up locations across the Philippines; and real-time to mobile wallets via Ayannah’s mobile payment partner.
Founded in 2008, Ayannah operates the largest digital payment network in the Philippines, offering a host of digital financial services that focus on serving the needs of the unbanked. The company won this years’ Best Fintech Start Up at Visa and NextMoney’s Fintech Finals (FF17) in Hong Kong. Ayannah has served over 10 million customers through its physical agents and online presence. The company serviced US$150 million in remittances in 2016.
Miguel (Mikko) Perez, founder and CEO of Ayannah, comments on the partnership, “Ayannah provides affordable and accessible digital financial services to the emerging middle class. As the largest digital payment network in the Philippines, we are very pleased to partner with OKLink, the world’s leading blockchain settlement system to provide our customers all over the world with more affordable and convenient options to send money to the Philippines.”
Jason Lau, Vice President of Business Development at OKLink, said, “We are thrilled to work with Mikko and the entire Ayannah team on this partnership. We continue to pursue low cost instant transfers to every country in every payout form.”
Overseas remittances to the Philippines remains a key part of the country’s economy, equivalent to more than 10 percent of gross domestic product according to 2015 data from the World Bank.
Ayannah is a leading provider of affordable and accessible digital financial services to the world’s emerging middle class, many of whom are migrants and/or unbanked. We enrich the lives of our customers by allowing them to send and share values over the social and mobile web. Ayannah operates several services that allow convenient online and mobile giving, selling and buying on an award-winning technology platform. Sendah is an online commerce service that lets migrants send a variety of gift items across borders. Sendah Direct is our electronic distribution and payment SaaS for enterprising individuals and retailers. Sendah Remit is a bank-grade remittance SaaS that allows inter-operable international and domestic remittance transactions across different networks. We operate a market-proven stack of digital financial services – from payments, commerce and analytics – serving our customers globally.
Launched in August 2016, OKLink is a next generation settlement platform provider that gives every remittance and payment company the same cost advantage, global reach, and speed that took Western Union many decades to build. The company leverages the trust of the blockchain to connect and enable transactions between transfer and delivery companies worldwide using blockchain anchored digital assets and multi-signature technology. OKLink is growing rapidly with a payout network that is currently available in 40 countries across Asia, Europe and the Americas.
For more information, please visit oklink.com or follow the company on Twitter @OKLink.