MANILA - Money transfer WorldRemit said Monday it would establish a major hub in the Philippines, which accounts for a fifth of monthly transactions worldwide.
WorldRemit is also looking to build its Philippine workforce to "in excess of 100" as it establishes a "major center" in the country, said regional director for Asia Michael Liu.
"Filipino customers around the world have been very loyal and valuable customers to us for a long period of time so it makes absolute sense for us from a cultural perspective and a strategical perspective to have a base in the Philippines," Liu told ANC's Market Edge with Cathy Yang.
"In the Philippines, we are planning to make that one of the major centers and we do have plans to have a headcount in excess of a hundred and around this time next year and the years to come," he said.
About 20 percent of WorldRemit's 800,000 global transactions per month go to the Philippines he said.