Viamericas, a provider of remittance and international money transfer services, says it has launched its open payment network in the Philippines.
This strategic initiative, it explains, provides an API that payers in the Philippines can connect to, providing access to faster, more affordable and secure transfers for Philippine nationals receiving funds from abroad.
Financial institutions, payment service providers, and fintech companies can connect to the open payment network through Viamericas' API. This integration option enables payers of all sizes to tap into the network's capabilities, expanding their service offerings while maintaining full control over their customer experience.
The company's open payment network allows customers in the US and Canada to send money to anyone within the network, regardless of their financial service provider. By leveraging existing payment infrastructure and combining multiple systems, says Viamericas, the network dramatically improves accessibility and efficiency for international money transfers to the Philippines.
As one of the world's largest remittance markets, the Philippines receives billions of dollars in international transfers annually. Viamericas says its open payment network makes it easier for families in the US and Canada to send money home by reducing costs, accelerating transaction speeds, and expanding service reach.
This announcement follows the news, in mid-March, that Viamericas has opened a new office in the Philippines, an expansion that, the company says, underscores its commitment to the Philippines market and also serves as a pivotal step in its broader strategy for growth across APAC regions.
