WorldRemit's new service aimed at NY Filipino community

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  • New international money transfer service will serve state's growing Filipino population
  • The Philippines is already company's largest receive market

WorldRemit, a leading international payments provider, has just announced its launch in New York with a specific focus on the Filipino community. The company hopes this expanded service will better connect approximately 100,000 Filipinos living in the state with faster, cheaper ways to send money home.

WorldRemit has been processing cross-border payments to the Philippines since 2011 and has been operating in the United States since 2014. The Philippines is WorldRemit's most lucrative receive market, accounting for roughly 200,000 monthly transactions and billions in revenue.

Recent reports from the Philippines Central Bank indicate that total remittances to the country reached over $28bn last year.

Officials at WorldRemit expect these numbers to increase significantly in light of the New York launch, as the Filipino diaspora will now have full access to WorldRemit services, making international transfers faster and more convenient than ever.

According to WorldRemit Regional Director Michael Liu, extending the provider's services to New York-based Filipinos makes perfect sense.

"The Philippines has been WorldRemit's number one receive market since the company launched its service in 2011,” Liu said. “We have been working hard to connect the large Filipino diaspora in New York to our service and are delighted to be launching this new service, ensuring family and friends can remain connected continents apart."

Customers sending money from the US to the Philippines with WorldRemit can save an average of $110 on transactions over the course of one year. The WorldRemit mobile app makes sending cross-border payments quick and easy without the hassle of traveling to a physical agent location.

Globally, WorldRemit has been growing its influence and presence in the $600bn international money transfer market. This US expansion is poised to further improve the company's reach.

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