When it comes to remittance companies, stakeholders look for reliability and consistency. These remittance centers, after all, handle their hard-earned money intended for loved ones.
For TrueMoney, a new remittance player, the goal is to put one TrueMoney Center in each of the country’s more than 42,000 barangays and serve those who need a remittance network but have no bank accounts. For example, a farmer in a rural area with a wife working might not have two or more IDs and thus, is unable to open a bank account. TrueMoney will help him receive money from his wife and other relatives in the most convenient way.
To meet that goal, TrueMoney teams up with cooperatives and groups in different regions. Its latest partnership is with Cebu People’s Multi-Purpose Cooperative (CPMPC), a community-based savings and credit cooperative with over 55,000 members to-date.
Cebu People’s Multi-Purpose Cooperative is an organization of individuals who are in the business of developing and realizing entrepreneurial aspirations of the group’s members and staff.
With its partnership with CPMPC, TrueMoney will strengthen its presence in Cebu and key focus areas of Visayas and Mindanao.
TrueMoney’s partnership with CPMPC will transform the cooperatives’ entrepreneurs to owners of TrueMoney Financial Centers to allow remittance, bills payment and telco and gaming load top-up.
“This partnership will help generate more business for TrueMoney. It will also help CPMPC remain true to its vision of bringing sustainable growth and development to the community,” said Xavier Marzan, chief executive officer of TrueMoney Philippines.
“TrueMoney’s mission is to provide access to financial services, particularly to the unserved and the unbanked,” he added.
“Unbanked” refers to individuals who do not have their own bank accounts and need to rely on alternative financial services for their financial needs, particularly sending and receiving remittances. TrueMoney helps these individuals under Bangko Sentral ng Pilipinas regulations.
Through the TrueMoney-Cebu People’s Multi-Purpose Cooperative partnership, TrueMoney Centers will accept payments to CPMPC. Additionally, CPMPC will pay out loans to its members through TrueMoney’s online disbursement facility. This makes it easier for CPMPC members as they can now conveniently withdraw at ATMs via TrueMoney ATM cards and pay their dues without having to physically visit CPMPC offices.
Currently, TrueMoney Centers in the Philippines already provide convenient payments and financial services to provinces and far flung areas including Albay, Bataan, Benguet, Bohol, Bukidnon, Cagayan de Oro, Camarines Sur, Cavite, Cebu, Davao, Ilocos, Isabela, Laguna, La Union, Metro Manila, Misamis Oriental, Nueva Ecija, Nueva Vizcaya, Pampanga, Pangasinan, Quezon, Rizal, Tarlac, and Zambales and more!
To know more about TrueMoney and how to become a TrueMoney Partner Agent, visit truemoney.com.ph or call Toll Free #88TMN (#88866) or 02-7189999. You may even text them at 09778063775 (Globe) or 0998565999 (Smart).