Cebuana Lhuillier, the Philippines’ premier micro-financial services provider, announced recently that it has partnered with ROXE, a global payment network that uses blockchain infrastructure, to enhance its service capabilities further and eliminate its customer’s pain points.
In particular, the partnership will facilitate seamless cross-border remittance payments (via ROXE’s blockchain network) for Cebuana Lhuillier’s clients in the Philippines who will utilize its diverse fund delivery methods.
Cebuana currently offers cross-border remittance disbursement through its Cash-Pick-Up and Remit-to-Account services which are made available to clients through branches, agent locations, service providers, and other payout networks, and channels. It now also has over 3,000 physical locations nationwide.
“The Philippines’ remittance market has grown tremendously to become the fourth largest in the world. This means Filipino citizens are now in need of an easier, more dependable, and secured facility for them to send and receive their money, anytime and anywhere,” beamed Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier. “This collaboration will allow us to connect to ROXE Inc.’s blockchain network. It will allow us to eliminate key pain points of our clients while helping accelerate and optimize the company’s cross-border payment capabilities.”
ROXE, for its part, is expected to grant Cebuana Lhuillier access to its global partners who will be able to send funds to Cebuana Lhuillier’s existing and new clients through this collaboration. The company sees blockchain technology becoming a growing mechanism for driving the next generation of global finance solutions, and its ultimate goal is to power the next generation of payments and digital commerce.
“This partnership is an exciting step forward for us at ROXE as it gives us a strong distribution network to clients in the Philippines,” explained Josh Li, Chief Business Officer of ROXE. “The country has emerged as a serious player on the global financial stage. Whether it’s disbursing funds to end users’ bank accounts or directly allowing cash pickups onsite, all Cebuana clients will now be able to receive funds from within ROXE’s network.”
Over the past few months, ROXE has ramped up its product and partner expansion. Just recently, it added over 40 partners to its global payment community who have since integrated the company’s blockchain technology and ROXE Instant Settlement Network (RISN). It has also been shortlisted recently as a finalist in the Bank for International Settlements (BIS) G20 TechSprint challenge on central bank digital currencies (CBDCs).
Providing fast, easy, secure, and convenient financial services
P.J. Lhuillier, Inc. (PJLI) is the proud parent company of Cebuana Lhuillier, the Philippines’ largest micro- financial services provider. It offers pawning, remittance, micro insurance, bills payment, e-load, business-to-business solutions services, and micro-savings and other banking services through its banking arm, the Cebuana Lhuillier Rural Bank.
For more than 30 years, Cebuana Lhuillier has continuously provided fast, easy, secure, and convenient micro-financial products and services to more than 30 million customers through over 3,000 branches nationwide.
The company has also expanded its services into the digital space through the eCebuana App, a product of the Cebuana Lhuillier Rural Bank, and a host of other financial platforms such as Cebuana From Home, ProtectNow.com and the Cebuana Lhuillier Jewelry website.