iRemit reports 36.8% surge in transactions in January-October

I-Remit Inc., the country’s largest Filipino-owned non-bank remittance company, said transactions for the first 10 months of the year rose 36.8 percent in value, driven by increased remittances from Filipinos living or working abroad.

I-Remit said it handled a total of 1.519 million transactions with a value of over $613.1 million in the period January to October this year. Of the total, $448.3 million accounted for remittances from Filipino expatriates.

In October alone, transactions reached a record high of 175,533  valued at over $75.9 million, signaling the usual acceleration of business towards the end of the year.

“The fourth quarter is traditionally the best performing quarter of the year due to increased remittances during the holiday season,” said I-Remit president Harris Jacildo.

I-Remit has a growing network with presence in 25 countries across North America, Europe, Australia, the Pacific Isles and the Middle East.

I-Remit also offers different modes of services such as door-to door, notify and pay, and payments for Social Security System (SSS) soon to be online crediting, Pag-ibig, Philhealth, property developers, and other collection partners.

To assure the delivery of first-class remittance services, I-Remit has setup its own customer service center that operates on a 24/7 mode to provide the needed assistance to remitters and their beneficiaries, anytime.

I-Remit is part of the Tiu Group that has investments in a range of industries from banking, real estate, manufacturing, and hotel and resort operations. Among these are publicly-listed TKC Steel Corp., Sterling Bank of Asia, the Discovery chain of small luxury hotels, the Mansions Group of serviced apartments, and Kent Vinyl Tiles.