Montreal-based DebitWay has signed Filipino giant LBC Mundial Remittance Corp. DebitWay who can already boast partnerships with online remittance enterprises such as Duales, Transfast and Money2anywhere.
DDT and Electronic Funds Transfer (EFT – eChecks) to name but two of the payment methods that comprise the DebitWay family.
LBC has been a towering force in the Philippines since the 1950s. What initially began as a dedication to air brokerage and air cargo has evolved over the many years, effectively creating a brand that is as recognizable in the Philippines as Coca-Cola or Mercedes Benz.
With a firm grasp and understanding of the deep attachment that Filipino migrants retain to their native country, LBC has added the ability to send funds “home” (to the Philippines) from almost anywhere in the world. While previously those looking to send funds were forced to make physical trips to specific locations in order to supply and transfer the amount of money in question, with the advent of the internet, the dedication of LBC and the foresight of DebitWay, migrant Filipinos can now send money back to the Philippines from the comfort of their own homes via online debit transfers.
LBC and DebitWay have partnered together to allow Canadians of Filipino decent, of which there are a reported 660,000 to 800,000 living in Canada (roughly 2% of Canada’s 35.16 million population), the ability to send money back to the Philippines online via DebitWay’s Direct Debit Transfer (DDT). This payment option allows LBC to accept direct debit funds from all Canadians who transact with financial institutions that honor online debit transfer services, thus facilitating the transfer of funds and expediting the remittance process.
For more data on Interac access CardData®. For information and commentary on Interac visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAM Research® forecasts on Interac are available exclusively through CardWeb.com.®