Western Union has entered into a new remittance partnership with TrueMoney, a financial services provider in the Philippines.

The move will enable cross-border fund transfers to the Philippines.

Initially, customers will be able to receive money at select TrueMoney locations. Gradually, the Western Union Money Transfer Services will be available at 5,000 TrueMoney centres across the country.

Western Union Philippines, Malaysia, Brunei & Indochina network head Jeffrey Navarro said: “At Western Union, we are committed to doing everything we can to serve our customers and communities, here in the Philippines and across the world.

“We are continuously adapting our operations and business, to offer customers the best service and experience.

“We are excited by the launch of our service with TrueMoney, enabling customers to now access money transfer services at more locations across the country.”

TrueMoney Philippines CEO and country managing director Eugene Go said: “With the speed at which things are changing around us, we are dedicated to serve our customers, facilitating reliable and convenient money transfers for them.

“Money movement is essential – often, livelihoods and financial survival are directly linked to it. Hence, it’s critical in these times to move money responsibly, and we are glad to do so with Western Union.”

According to World Bank data, the Philippines was the fourth-largest remittance-receiving country in the world last year.

In May, Western Union reported a drop in 2020 Q1 revenue.