Florida-based fintech Viamericas has launched an open payment network in the Philippines, aimed at offering access to international money transfers for Filipinos.
This network allows customers in the US and Canada to send funds directly to recipients in the Philippines, irrespective of their financial service provider.
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The network is accessible via an API that enables Philippine payors to connect and process transfers from abroad.
Financial institutions, fintech firms and payment service providers can integrate with this network, allowing them to broaden their service offerings while retaining control over the customer experience.
By integrating with Viamericas’ API, payors of various sizes can leverage the network’s features to enhance their capabilities.
This system utilises the existing payment infrastructure and combines multiple systems.
Viamericas CEO and co-founder Paul Dwyer said: “This open payment network marks a transformative step in our commitment to the Filipino-American and Filipino-Canadian community. We have created an ecosystem where money can move freely and securely across borders, reaching recipients through their preferred financial channels.”
This month, Viamericas also introduced a domestic cash-to-cash money transfer service, which is available at thousands of agent locations across the US.
Set up in in 1999, Viamericas is a licenced money transmitter that offers a range of services including international money transfers, bill payments, check processing, and top-up services.
The company has a presence in several locations, including a West Coast office in Los Angeles and operational centres in Mexico, Colombia, and the Philippines, facilitating money transfers to over 285,000 locations in 95 countries.
