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Visa and PHLPost to work together to provide more secure and efficient financial services
Visa (NYSE: V), a global leader in digital payments, has signed a memorandum of understanding with the Philippine Postal Corporation (PHLPost) aimed at expanding access to financial services for Filipinos, particularly those in underserved sectors such as rural communities.
Under the agreement, Visa will utilize its innovation in digital payments as well as its global payments network to explore opportunities with PHLPost in modernizing and expanding the reach of its financial services, which include handling remittances and money orders for overseas Filipino workers (OFWs) as well as disbursement of healthcare subsidies, social welfare payments, and disaster relief.
Visa and PHLPost will also explore opportunities to enhance business and financial literacy for Micro, Small, and Medium Enterprises (MSMEs), as well as share best practices in making financial transactions more seamless, secure, and accessible.
The PHLPost remains committed to providing essential postal and financial services to Filipinos, especially those in remote and or Filipinos abroad. Through this collaboration with Visa, PHLPost aims to enhance its financial offerings by integrating digital payment solutions, improving transaction efficiency, and ensuring greater security for its customers through good governance. By modernizing its services, PHLPost seeks to bridge the financial gap for communities that rely on its extensive network across the country.