BPI taps Palawan Express to ease remittance services

CEBU, Philippines —  The Bank of the Philippine Islands (BPI) announced its partnership with money remittance chain Palawan Express Pera Padala.

This new service which was launched late last month, aimed at helping more Filipinos send and claim money more conveniently as the Enhanced Community Quarantine (ECQ) forced people to stay at home, said Ramon Jocson BPI Chief Operating Officer in an online press conference.

Offered through BPI’s new online service labelled as “BPI To Cash”.

This newest facility launched in the middle of ECQ due to VOVID-19 scare, BPI to Cash allows BPI account holders to send or pay cash within the day to any receiver through its pay-out partner Palawan Express.

This means that as long as one has BPI account, and online access, he does not have to go to a Palawan Express Padala outlet to send money.

This type of partnership, has gotten quick approval from the Bangko Sentral Ng Pilipinas (BSP), Jocson added.

Palawan Pawnshop is now considered to be one of the most reliable, fastest-growing and leading pawnshops in the Philippines. Its first branch, owned and operated by couple Bobby and Angelita Castro formally opened in Puerto Princesa City on August 17, 1985.

Originally established as a business offering only pawn brokering, it expanded its services to include money remittance known as Palawan Express Pera Padala.

Today, after more than 30 years in the industry, Palawan Pawnshop Services (PPS) group of companies operates the Palawan Pawnshop and Palawan Express Pera padala chain in the Philippines.

Meanwhile, BPI president and chief executive officer (CEO) Cezar P. Consing encouraged BPI depositors to enrol online, or register their accounts online especially now that ECQ is still ongoing.

Consing revealed that during the ECQ, 90 percent of all of the bank’s transactions were done outside branch premises, a significant jump from 72 percent pre-ECQ, reflecting an accelerating shift to digital banking.