Targeted remittance company Rebit recently announced a new service that will enable immigrant Filipinos abroad to pay their family’s bills and load phones back home through Bitcoin.
According to their press release, the Philippines-based company is offering over 91 bills payment options and 5 e-load providers (Red Mobile, Smart, Sun, Globe, and Talk n’ Text). Using these services enables non resident Filipinos to pay for their family’s utility, cable and telephone bills directly through Bitcoin. Not only does Rebit save Filipinos from cutting an extra-step to support their family, it also makes sure that the money is directed only towards paying crucial expenses; thus ensuring no misuse of funds.
John. T. Ballon, CEO and Co-Founder of Rebit’s parent company Satoshi Citadel Industries, further believes their services to be one that saves Filipinos from unnecessary financial exploitation.“The heart of the struggle with Filipino financial freedom has always been reckless spending,” he says. “Rebit aim with targeted remittances is to eliminate the worries of our OFWs, who are often more financially literate than their families back home.”
What further adds brownie points to this service is its low cost. As per claims by Rebit, their remittance services charges no transactions fees and ensures to real-time BTC to PHP conversion while sending money home or paying for aforementioned bills. The introduction of Bitcoin to this entire process itself ensures a low-cost transaction, especially in times when traditional remittance services charges 5-9% per transaction.
Image Credits: Rebit.ph