LBC launches TXT Remit service in Cebu

CEBU, Philippines - Buy, scratch and transfer. These are the three steps involved in LBC Remit Express’ newest service which allows Filipinos to send and receive money anytime, anywhere in the country at the speed of a text message.

Officially launched yesterday in Cebu, LBC’s TXT Remit is described to bridge the challenges of geographical location when transferring and claiming remittances through the use of the short messaging service.

LBC’s senior vice president for operations led the official presentation of the LBC TXT Remit cards to the media yesterday at the Radisson Blu Hotel.

For senders, they can send money securely with their mobile phone using a prepaid card, thus avoiding a trip to initiate a transaction. Recipients, on the other hand, can encash the amount in any LBC branch nationwide.

Specifically, the sender first needs to buy a prepaid card available in LBC branches and accredited outlets and retailers in Cebu.  These cards come in P500, P1,000 and P1,500 stored value denominations.

The sender then scratches a part at the back portion to reveal the personal identification number (PIN). Once the PIN is known, the sender can now send it, along with the remit card number, to 2910 using a pre-formatted syntax. 

The service is then expected to send a prompt reply with a tracking number and PIN which the sender can forward to the recipients so they can receive confirmation of the remitted amount.

A valid I.D. and a filled up LBC encashment form, as well as the tracking number and PIN, are required in order to get the cash.

Aside from being a fast and easy remittance service, TXT Remit card is actually transferable and can be used as a gift, for example. The card is also convertible, which means it can be used to avail of other LBC services such as bills payment.

LBC Money vice president Achilles Reyes said customers will enjoy an increased level of service in terms of convenience, speed and reliability with their new offer, adding that remittance process is now easier and faster just like sending a text message.

“We chose Cebu to pilot the service because of its dynamic remittance environment, which is smaller and easier to monitor. Eventually, we will expand the service to other areas in the Philippines,” Reyes said.

LBC Cebu’s Cris Balbuena, on his part, said that Cebu has always served a good launching ground for their company because of its lively customer base.

Cebuanos in particular, Balbuena said, are also very receptive to new ideas and innovations, which is part of the reason why LBC decided to start on the new service here.

To further expand the promotional coverage of the service, promo posters will be disseminated in sari-sari stores, convenience stores, and retail outlets across the province. Promotional videos will also be aired in regional TV networks in the next few weeks./JOB (FREEMAN)