Over the past 10 years, the total amount of cross-border remittances has been gradually increasing. Most of these remittances come from the salaries of overseas migrant workers and also include transfers from overseas tourists, overseas students, and multinational investors.
Despite the total remittance amount has been increased, the high transfer fee and long transfer time are still painful for millions of foreign workers.
Epayunderstands how important to have a low-cost and efficient remittance platform for overseas migrant workers. Therefore, on the basis of the original mature businesses such as online payment and currency exchange, Epay has launched a global remittance network in January 2019, creating a one-stop online remittance service platform for senders.
Now, Epay remittance network is newly upgraded, and cash withdrawal services are officially launched!
The cash withdrawal function is designed to allow millions of people to send money safely and quickly to all parts of the world and pick up cash near home.
Based on the original remittance network, the cash withdrawal function currently supports more than 50 currencies, covering 70 countries and regions. There are more than 200,000 withdrawal outlets worldwide, which greatly expands the scope of remittances and meets the needs of more senders. As a result, the global remittance network is moving towards a more mature stage.
Among the 70 countries supported, there are many Southeast Asian countries including India, Bangladesh, Vietnam, etc. As of 2018, more than 73% of the population (438 million) still have no bank account. Epay cash withdrawal properly solves this problem, allowing recipients to receive payments from around the world even without a bank account.
The total amount of remittances is increasing every year, partly due to the improvement of remittance channels. Compared with the traditional Wire Transfer, the cash withdrawal function of Epay can perfectly solve the time-consuming and high transfer fee problems.
Remitters can easily complete a remittance through the Epay wallet app and epay.com website without leaving the home, the whole process is much easier than send money at banks.
With the advanced technology and a mature global remittance network, payees can pick up money on the same day by cash withdrawal function, which is 3-7 times faster than international wire transfer.
As a reliable overseas payment company, Mr. Hu Ganghong, the founder of Epay, has more than 20 years of experience in cross-border remittance and overseas payment. Since its establishment, Epay has been building a more convenient and efficient global payment dream, to make the flow of cross-border funds faster, safer and cheaper through the continuous upgrading of technology.