One of Bitcoin’ s main selling points is the fact they can easily take on the remittance market and save all parties involved a lot of money. However, to this day, very little is done to actively tackle the remittance market dominated by companies such as Western Union, with ludicrous fees to boot. Rebit, the remittance product of Satoshi Citadel Industries, has launched their targeted remittances for their customers.
Rebit.ph Takes On The Remittance Market
As you may have guessed from the subtitle, Rebit’ s services are available for Filipinos only at this point. The new targeted remittance service allows Filipinos overseas to directly pay for their family’s bills, as well as top up phone credit with Bitcoin through Rebit.ph All of this is in addition to the existing option to cash out Bitcoins and have then sent out to family, friends and loved ones in fiat currency.
Giving users even more options and tools to support their relatives overseas is a smart business decision by Rebit.ph. At the time of writing, 91 bills payment options and 5 eload providers are supported. Thanks to the expansion of their services, Rebit.ph breaks down the final barrier of paying out your bills in Bitcoin, whether it is a telephone, cable or utility bill.
One of the largest problems overseas Filipino breadwinners face on a regular basis is the potential misuse of funds being sent home. After all, once the funds is sent over, it is up to the recipient to spend the money wisely and use it to pay for bills, goods and services rendered. However, this is more often than not exactly the opposite of what is happening, which leads to frustration and despair on both sides.
By launching the targeted remittances, Rebit.ph eliminates the possibility of funds being misspent, as overseas breadwinners pay these bills themselves. This allows them to play a far more active role in their family’s finances, as the funds being sent over is only used to pay the most important expenses. No more money getting squandered that could, or even should have been used for other pressing needs.
“The heart of the struggle with Filipino financial freedom has always been reckless spending. Rebit’s aim with targeted remittances is to eliminate the worries of our OFWs, who are often more financially literate than their families back home.” says John T. Bailon, CEO and Co-Founder of Satoshi Citadel Industries.
Rebit.ph is positioning themselves to become the answer to sending money to the Philippines using Bitcoin. Considering the fact they charge no transaction fee for their services, and the utilization of a real-time BTC to PHP (Philippine Peso) exchange rate, the local remittance industry is going through a revolutionary stage.
Overseas Filipinos can always send bitcoin to their relatives and have them pick it up in the form of a cash transaction at one of the Rebit Offices. Or, if they so prefer, Philippine Pesos can be deposited to any local bank account determined by the sender. Pick-up services are also available, such as Cebuana Lhuillier and Palawan Express.
Website : http://rebit.ph
Source : press release via email