BigPay customers can send money to someone who doesn’t have a bank account via Cash Pickup, which allows the recipient to pick up the money in cash from a physical partner location of their choice.
Under BigPay’s remittance service, Indonesia and the Philippines are one of the strongest corridors, with the biggest numbers of outbound remittances from Malaysia and Singapore.
Remittances are typically made through banks, which presents a huge barrier for Indonesia’s and Philippines’ large unbanked populations. BigPay aims to bridge the technology gap and assist families to obtain access to their funds without the requirement for a bank account by offering cash pick-up as a payment option.
Salim Dhanani, CEO & Co-Founder of BigPay, said Cash Pickup services are a “natural fit” to further their 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,” Dhanani said in a statement.
Senders just need to select the amount to remit and the collection location to transmit the funds securely using the BigPay app.
Their families in Indonesia and the Philippines can go to the designated local collection point within the timeframe, submit their unique PIN and a form of identification, and get the cash in a timely manner. All BigPay users in Malaysia and Singapore can use the Cash Pickup feature.
BigPay makes receiving international transfers easier with over 14,000 pick-up locations across the Philippines and Indonesia. Recipients in Indonesia can pick up their packages at any POS Indonesia store. BDO Cash Pickup, M Lhuillier, Cebuana Lhuillier, Palawan Pawnshop, LBC Express, SM Counters, BPI, Metrobank, and RD Cash Padala Pawnshop facilities are also accessible in the Philippines. Users who make their first international BigPay transfer using Cash Pickup will receive a free transfer.
BigPay’s fundamental purpose and mission have been to promote financial well-being and access since its beginning in 2017. The company wants to extend its services and launch more financial products throughout Southeast Asia, in addition to helping over 2 million people better their financial health.
The Cash Pickup service is the newest addition to BigPay’s range of services geared at empowering youngsters and freelancers, which also includes its latest credit product, micro-insurance, and participation in Malaysia’s DuitNow.