PERA HUB’s Digital Remittance Platform (DRP) secured a back-to-back win at the Asian Technology Excellence Awards, earning the Philippines Technology Excellence Award in the API – Financial Services category. The event, held in Bangkok, Thailand, on September 5, 2024, recognized top innovators and solutions driving industry transformation and leading the way in digital innovation.
PERA HUB DRP is a single application programming interface (API) platform that connects a network of remittance companies with digital wallets and other emerging fintech. Regulated by the Bangko Sentral ng Pilipinas (BSP), the platform seamlessly links financial institutions with renowned remittance providers such as Western Union, Remitly, and Ria Money Transfer. This enables e-wallets and digital communities to participate in the Philippines’ remittance inflows, serving as a funding source to promote their ecosystems.
As it continues to transform how Filipinos receive remittances, PERA HUB DRP has consistently shown impressive month-on-month growth to underscore the platform’s robust demand and scalability. This also aligns with the accelerating digital shift in the remittance industry, driven by increasing consumer preference for digital transactions. According to the BSP Digital Report, the share of digital payments versus total payment volume reached 56% in 2022.
“Building on the solid foundation we have established with numerous partners throughout the years and the thousands of locations we have nationwide, PERA HUB is making it easier for other remittance providers and fintechs to be part of the cross-border payment scene by providing them with a cost-efficient and easy-to-integrate solution: the DRP,” explained President and CEO Ian Ocampo.
Reinforcing its commitment to innovation, PERA HUB aims to deliver more remittance services and options and integrate with additional electronic money issuers (EMIs) through the DRP, further solidifying its position as a market leader in the digital remittance space.
