BigPay today announced the launch of cash pickup services in Indonesia and the Philippines, a new addition to its existing remittance services. Called ‘Cash Pickup’, this new feature allows BigPay users in Malaysia and Singapore to send money to recipients in the aforementioned countries even if the recipients don’t have any bank accounts.
In a statement today, the Southeast Asian fintech company said that Cash Pickup allows the recipient to collect the money in cash from over 14,000 physical pickup partner location of their choice across both countries. Furthermore, the feature was added due to Indonesia and the Philippines having a substantial unbanked population and the fact that both countries are the strongest corridor that see the highest number of outbound remittances from Malaysia and Singapore under BigPay.
BigPay asserted that it believes in a financially borderless world where everyone has equitable access to products they need. Moreover, the company hopes that this new feature will help bridge the technology gap and help families gain access to their funds without the need for a bank account.
In order to send money via the BigPay app, users just have to select the amount to remit together with the pickup location. The recipients can then head to the designated pickup locations within the specified timeframe, provide the unique PIN and a form of identification to receive the funds that was sent.
In Indonesia, recipients can collect the sent money from any POS Indonesia location. As for the Philippines, recipients can collect the funds from any BDO Cash Pickup, M Lhuillier, Cebuana Lhuillier, Palawan Pawnshop, LBC Express, SM Counters, BPI, Metrobank, and RD Cash Padala Pawnshop locations.
For those that are eager to test this feature out, BigPay will not be charging any transfer fee for your first BigPay international transfer via Cash Pickup. Previously, you can already send funds to the bank accounts of recipients in Indonesia and Philippines, with the transfer needing only 5 minutes to be received for most Southeast Asian countries.
So, what do you guys think of BigPay’s new Cash Pickup service? Share your thoughts with us in the comments below and stay tuned to TechNave for the latest tech news in Malaysia and beyond!