Tempo France, an innovative payment system operator headquartered in the EU, is gearing up to introduce a groundbreaking business solution tailored for remittances between the European Union and the Philippines.
In a strategic move, Tempo France has joined forces with Cebuana Lhuiller, a prominent local multi-industry player, to unveil an all-encompassing white-label offering. This strategic partnership empowers Cebuana Lhuiller to conduct seamless money transfers between the EU and the Philippines, operating under its unique brand identity. The comprehensive package spans a wide array of services, featuring a fully customized mobile app, legal coverage for transfers within the European Union, robust financial settlements, and a cutting-edge IT framework. Moreover, this comprehensive solution places paramount emphasis on security, encompassing essential elements such as Know Your Customer (KYC) protocols and meticulous Asset/Liability Management (ALM). What’s more, this package is designed to be readily deployable upon implementation.
At the heart of this innovative solution lies a state-of-the-art IT infrastructure, collaboratively crafted in partnership with Armenotech, an internationally acclaimed fintech company based in Cyprus. Anchoring the technological prowess is the Stellar blockchain, a trailblazing technology that ensures both security and efficiency in money transfers. Upon its launch, this transformative initiative will empower individuals across Europe to initiate money transfers through the dedicated app. Subsequently, beneficiaries in the Philippines will be able to collect their funds in pesos from a widespread network of Cebuana Lhuiller locations across the country. With the Stellar blockchain as its backbone, the solution boasts exceptional transaction speed, unmatched safety features, and remarkably low transaction costs, setting a new standard for cross-border money transfers.
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