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RechargePlus Offers US$1
per Remittance Transaction
Down to just one dollar. Technology solutions provider
RechargePlus says this is how low they can go in bringing down the transaction
costs of overseas remittances to the Philippines.
During a recent visit to United Filipino Seafarer (UFS)
President Engr. Nelson P. Ramirez, RechargePlus Philippines Country Manager
Apaul Fausto introduced a “remittance revolution” featuring a fixed-fee,
per-transaction structure of only US$1 for overseas money transfers, and
only PhP1 for local remittances.
According to Fausto, RechargePlus will be able to offer
lower transaction costs due to the minimal infrastructure cost that the
company operates under. “This dramatic reduction in costs is our
response to the call of both the government and Filipino remitters here
and abroad, to bring down the rates of remittance,” Fausto adds.
The Philippines currently holds the distinction of having
one of the highest costs of foreign remittance in the world, estimated
to be as high as 13.5%.
The RechargePlus remittance program operates on a prepaid
debit card platform with web- and text messaging-enabled functionalities.
Cards will be given free to both overseas Filipinos and their beneficiaries.
Card-to-card fund transfers will be done in real-time via the Internet
or through text messaging. Once funded, the cards may be used for online
shopping, prepaid top-ups, point-of-sale (POS) machine purchases at retail
shops, or for withdrawing cash at ATMs.
Because of the low cost of remittance, and the convenience
it offers to both the overseas Filipino and his beneficiaries, Fausto is
confident about the acceptance of RechargePlus.
Already, some shipping companies and manning agencies
have decided to use RechargePlus cards for their payroll services.
“This is a win-win-win solution we are offering the Filipino people,” explains
Fausto.
“The overseas Filipino is able to send more money because
of the low transaction costs. Likewise, his beneficiary will enjoy the
security and convenience that the debit card offers. And the local
economy receives a much-needed boost in remittance revenues,” points out
the RechargePlus Country Manager
“Calculate that with the savings on remittance transaction
costs, overseas Filipinos will manage to pump close to US$1 billion back
to the Philippine economy,” emphasizes Fausto.
RechargePlus cards will also soon be available through
the United Filipino Seafarers office in Manila. For more information, log
on to www.rechargeplus.com.ph. |
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RechargePlus Offers US$1 per Remittance
Transaction
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Ships
Contribute your ideas online!
Express your opinion!
You can now
any discussion on seafarer's issues anytime or anywhere you are with
Usapang
Marino
(Seafarer's
Forum)
at URL: http://www.ufs.ph/phpBB2
Need a break?
Participate in seafarer’s
sports while in Rotterdam and Antwerp?
ISS/ICSW, in cooperation
with Friends of UFS in Rotterdam, has initiated a host of sports activities
for seafarers calling ports in Rotterdam and Antwerp. For more information,
contact Jorg Pfautsch, telephone number 0032-478-292469, or UFS-Rotterdam
at 010-4668300. |
THE
SEAMAN’S CHURCH INSTITUTE OF NY & NJ
International Seafarers’
Center
118 Export Street, Port
Newark,
New Jersey 07114
TELEPHONE (973) 589-5828
FAX (973) 8565
WE WELCOME YOU!
– MON - FRI 8:30 AM to10
PM
– SATURDAY 4 to10 PM
– SUNDAY 4 to 10 PMFree
Transportation to the center / Worship service, prayer meetings, and counseling
is provided aboard ship by request, and the Mariner’s Chapel / Cross &
Anchor calling cards – low rates for domestic and international calls ($10
and $20 cards available) / Books, Bibles, magazines, religious materials,
trucker resources, and used clothing / Postal services (U.S. mail, priority
/ express mail, Fedex) available / Money orders and money gram services
to all countries / Cash remittance to the Philippines / Internet access,
email services, faxes / Sports & Entertainment–large screen TV, ping
pong, darts, billiards, soccer, basketball, and video games / Fitness Center
/ Shower–no charge for seafarers / Gift Shop–candy, greeting cards, soda,
souvenirs, health and beauty products, clothing / New Jersey Gardens–the
largest outlet mall in NJ just 15 minutes away / Bus service is available
/ Balikbayan box shopping, UPS / Restaurant / Bar–Breakfast, lunch, and
dinner.
Serving the ports of Newark,
Elizabeth, Jersey City, Bayonne, Port Reading, Kearny, Linden, Carteret,
Perth Amboy, Staten Island, and Brooklyn |
NOTICE TO THE
PUBLIC
Rolly Pagaspas is not
in any way connected with the United Filipino Seafarers (UFS). He was assigned
as event director during the 1st UFS National Summit last September 2004
but he disappeared two days before the event. Any transaction entered into
by Mr. Pagaspas will not be honored by UFS. |
