Kuala Lumpur, 21 June 2022 - BigPay, a Southeast Asian fintech company, today announced the launch of its Cash Pickup services in Indonesia and the Philippines, as an added feature to its existing remittance feature.
Cash Pickup is a delivery method through which BigPay users can transfer money to another recipient without a bank account, allowing the recipient to collect the money in cash from a physical partner location of their choice. Indonesia and the Philippines are one of the strongest corridors that see the highest numbers of outbound remittances from Malaysia and Singapore, under BigPay’s remittance service.
Typically, remittances are primarily conducted through banks, which poses a significant challenge for the substantial unbanked population in Indonesia and the Philippines.
Through cash pick up as an option to receive money, BigPay seeks to bridge the technology gap and help families gain access to their funds without the need for a bank account.
BigPay made easy
“At BigPay, we believe in a financially borderless world where everyone has equitable access to the products they need. As we expand our remittance pillar within BigPay, Cash Pickup services are a natural fit to further our mission. Our users across the region can now send money in a few clicks to almost anywhere in the Philippines and across Indonesia - and this opens up the product to many more people ,” says Salim Dhanani, CEO & Co-Founder of BigPay.
To send money via the BigPay app, senders simply need to select the amount to remit and select the pickup location to send the funds securely. Their families in Indonesia and the Philippines can head to the designated local pickup location within the specified timeframe, provide the unique PIN and a form of identification, and receive the cash conveniently. The Cash Pickup feature is available to all BigPay users in Malaysia and Singapore.
With over 14,000 pick-up locations across the Philippines and Indonesia, BigPay greatly improves the convenience of receiving international transfers. In Indonesia, recipients can collect from any POS Indonesia location. Cash Pickup is also available in the Philippines at any BDO Cash Pickup, M Lhuillier, Cebuana Lhuillier, Palawan Pawnshop, LBC Express, SM Counters, BPI, Metrobank, and RD Cash Padala Pawnshop locations. All users to make their first BigPay international transfer via Cash Pickup will enjoy a free transfer.
Since its inception in 2017, driving financial wellbeing and access has been a core vision and mission of BigPay. In addition to helping over 2 million users improve their financial health, the company seeks to expand its services and introduce more financial products throughout the Southeast Asian region. The Cash Pickup service is the latest in BigPay’s suite of services aimed at empowering youths and freelancers, including its latest credit product, micro-insurance, and participation in DuitNow in Malaysia.