Western Union to partner with Filipino FinTech startup Coins

When a company becomes larger, it becomes more and more difficult to stay on top of trends and make changes to the overall business. It simply takes longer to push through dramatic twists, which is much easier to do as a nimble startup.

Western Union, the global payments firm, is not different. With the rise of financial technology startups worldwide, it has increasingly become difficult to keep track of the latest developments.

However, in order to stay on top of things, the firm has teamed up with a startup to help increase its presence in the world’s third-most lucrative remittance market: the Philippines.

With a large population living outside the country, the Philippines sees a large amount of remittances being sent to family and friends that still live in the country.

The startup that Western Union has teamed up with is Coins, a Manila-based FinTech startup that was acquired by ride-hailing company Go-Jek.

Coins will integrate Western Union’s services into its app, allowing Philippines-based users to receive remittances from their family and friends overseas. Read more about the partnership here.