Quikz, Cebuana Lhuillier’s mobile remittance app in the US, is now available in Singapore, made possible through a partnership between Cebuana Lhuillier and Nium, a global financial technology platform based in Singapore. Quikz will be powered by Nium’s Remittance-as-a-service (RaaS) solution and Cebuana Lhuillier’s network of pay-out locations in the Philippines, allowing thousands of Filipinos based in Singapore to enjoy improved convenience, security, and real-time global transactions.
Yogesh Sangle, Executive Vice President and Global Head of Consumer and SME Business at Nium, said, “With millions of Filipinos living and working overseas for their loved ones back home, the convenience and transparency in remittance processes play such an essential role – especially with continued social distancing measures and lockdowns in place. We are extremely excited that Cebuana Lhuillier, a home-grown Filipino brand, shares a common goal with Nium, and we are proud to co-establish and power this new platform through our enhanced remittance capabilities.”
Jean Henri Lhuillier, Cebuana Lhuillier President and CEO, said; “Cebuana Lhuillier’s core of Financial Inclusion always pushes us to provide better micro-financial services to Filipinos, wherever they may be. This new partnership with Nium strengthens our remittances services to ensure that Filipinos around the world have access to fast, reliable, and safe transactions.”
The Philippines is one of the world’s leading remittance markets. As of 2019, there are an estimated 12 million Filipinos who are working overseas, accounting for one-tenth of the country’s population, with Singapore having one of the third-highest share of overall remittances. In that same year, the Philippines saw US$33.5 billion sent back home from those working abroad. The country has made significant efforts to meet the growing demand for a remittance service that is faster, more convenient and efficient in today’s cashless society.
Cebuana Lhuillier will leverage Nium’s global network and digital capabilities, as well as partnerships with leading technology providers like Ripple, to enable instant, reliable and low-cost payments. Recipients in the Philippines will be able to receive the money at more than 2,500 branches located across the Philippines.