Amended Annual Report for the year ended 31 December 2011 (17-A)

I-Remit has the widest coverage in door-to-door delivery nationwide and is capable of
delivering cash remittances within the day for beneficiaries in Metro Manila and the
province of Rizal. Next-day deliveries may be made in the following cities and
provinces: Batangas, Bulacan, Cavite, Cebu, Davao, Laguna, La Union, Pampanga,
Pangasinan, Tacloban, and Tarlac. Deliveries in other remote areas may be made in
two (2) to three (3) days or 10 – 12 days depending on the specific location of the
beneficiary. I-Remit can deliver in 17 regions, 81 provinces, and 136 cities and
municipalities in the country.
Under the Company’s “Notify-to-Pay” services, remittances may be picked up by
beneficiaries in any of I-Remit’s 6,247 designated pay-out stations nationwide.
Beneficiaries may also encash remittances in more than 5,000 Smart Padala and Globe
G-Cash encashment centers nationwide once notified by “text” on their mobile phones.
New Products or Services
In May 2009, I-Remit implemented the Pag-IBIG Fund’s electronic collection system in
all its offices and tie-ups worldwide. I-Remit is an accredited non-bank remittance agent
of the Home Development Mutual Fund (also known as Pag-IBIG Fund). The new
service was introduced in line with the Pag-IBIG Fund’s Overseas Program (POP) for
its members.
In July 2009, I-Remit forged a partnership with Jollibee Foods Corporation for the “Salu-
Salo Padala Treat” for the purchase by OFWs of Jollibee meals and teats for delivery to
their families in the Philippines.
In December 2008, I-Remit tied-up with the Home Shopping Network, Inc. (HSNi) that
owns and operates Shop TV, a dedicated 24-hour TV shopping channel for the
purchase of various shopping items by OFWs for delivery to their families in the
Philippines.
In December 2008, I-Remit became an accredited marketer of the Philippine
Retirement Authority (PRA) that will conduct information dissemination, promotion and
collection activities in relation to PRA’s Retirement Program abroad.
On September 22, 2008, I-Remit signed a remittance partnership agreement with the
Bank of China Ltd. Manila branch. The agreement is initially intended to benefit
Chinese customers in the United Kingdom. The remittance proceeds may be
withdrawn by beneficiaries from any of Bank of China’s over 12,000 domestic branches
in the Chinese mainland.
On September 1, 2008, I-Remit introduced the I-Remit Shop ‘N’ Pay Card in
partnership with Sterling Bank of Asia. The I-Remit Shop I-Remit Shop ‘N’ Pay Card
utilizes the EMV (EuroPay, MasterCard, Visa) technology, the standard for the
interoperation of IC cards (“chip cards”) and IC capable POS terminals and ATMs, for
authenticating credit and debit card payments.
In May 2008, I-Remit signed a partnership agreement with the Land Bank of the
Philippines for the promotion and distribution of the Landbank OFW Cash Card, an
electronic debit card that can be linked to a Smart mobile phone.
On January 26, 2008, I-Remit introduced the I-Remit Electronic Overseas Collection
Service that allows OFWs to remit their contributions to the Social Security System
(SSS). I-Remit is the first non-bank remittance company authorized by the SSS to
provide this electronic service.
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