Sunday, March 24, 2019

Two startups team up to provide OFWs safer remittance service

TWO fast-growing social startups dedicated to improving the breadth of services available to overseas Filipino workers (OFWs) in Asia have teamed up in a bid to maximize opportunities for mutual growth.

BeamAndGo, the Singapore-based alternative remittance service provider, and HelperChoice, an online platform for connecting domestic helpers with employers, expressed their commitment to empower OFWs globally by enabling them to access basic services without the need to pay unnecessary fees and charges.

HelperChoice is a social online platform connecting employers and helpers worldwide. Unlike traditional domestic worker agencies, helpers can find an employer for free with HelperChoice. They can set up an account and message prospective employers directly. Employers benefit from a large and instantly updated database. Once a match has been made, the domestic helper and employer can arrange the paperwork through one of HelperChoice’s partner registered agencies.

The BeamAndGo platform includes The BeamAndGo Online Store, LearnAndGo Financial Literacy Seminars and Workshops, and LoadAndGo pre-paid credits. They actively market their products and services to the Overseas Filipino Worker communities in Asia, the Middle East and Europe.

“The two companies have lots in common,” says Laurence Fauchon, founder of HelperChoice. “We have both – in a short period of time – established solid reputations with OFWs around the world. Our helper members know we are working to disrupt the industry and make illegal fees and charges obsolete.”

“Our partnership with BeamAndGo complements our helper empowerment strategy perfectly. We help domestic workers save on illegal agency fees so they can provide for their families, not to waste their earnings. Sending cash home is inefficient, expensive and open to misuse. Now our members have access to a modern, safe remittance service where they can choose how and where the funds are distributed.”

BeamAndGo CEO Jonathan E. Chua adds, “HelperChoice and BeamAndGo share the same commitment to ethical business. The main purpose of the partnership is to improve the welfare of OFWs and their families back home. From a business perspective, we estimate that the partnership alone will provide BeamAndGo with an initial revenue growth of eight percent month-on-month within the first two quarters. And with HelperChoice, we can grow in countries where we do not have a large presence yet. We believe that our membership numbers will grow from 78,000 to over 100,000 within the same period.”

The partnership will present both companies with cross-marketing opportunities. BeamAndGo will propose their remittance services to over 50,000 HelperChoice members currently registered on the platform, and HelperChoice will be a member of BeamAndGo’s sales channel. The partnership is particularly suitable for domestic workers who do not have credit cards or access to online banking. (PR)

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