LemFi, a financial technology platform focused on serving immigrants, has partnered with GCash, the leading mobile wallet in the Philippines, to streamline international remittances to the country. This collaboration allows Filipinos in North America and Europe, including the UK, to send money directly to GCash wallets in the Philippines.
This partnership positions LemFi as an official GCash remittance partner in these key regions. The service boasts zero transfer fees, competitive exchange rates, no minimum transfer limits, and near-instant delivery, according to LemFi.
This integration should offer a cost-effective way for Filipinos living abroad to send financial support to their families back home. Funds can be used for various purposes, from bill payments and mobile data top-ups to covering everyday expenses.
GCash, reporting 94 million active users, has broadened its services to encompass payments, savings, credit, and insurance. They recently introduced GCash Overseas, enabling registration with international phone numbers.
See also: SA digital banking group, TymeBank launches GoTyme for Filipinos, in partnership with Gokongwei
Click to signup“Our kababayans abroad want speed and reliability,” said Paul Albano, GCash International’s General Manager.
“Our mission is to make international payments easier, quicker, and more inclusive. This partnership with GCash is a milestone for us, especially in connecting global Filipinos to trusted financial tools they already use,” said Philip Daniel, LemFi’s Head of Global Expansion and Growth.
LemFi and GCash formally announced their collaboration at a community event in Toronto. For Filipinos (especially those resident in the Philippines), LemFi has now become another way to top up their GCash, while for Kababayans (especially overseas Filipinos) using LemFi, GCash has now become a destination payment method like bank accounts and mobile money wallets.
This announcement follows LemFi’s recent Series B funding round and the acquisition of a credit-led UK fintech, Pillar. It also aligns with the search for similar emerging markets that African startups, like Tyme Group and Paga, are on.
The Philippine market is large (population of over 100 million), underserved (56% adults banked) and mobile-first (90% and 73% mobile and internet penetration, respectively), akin to Nigeria.
