Manila, Philippines — Ten years of serving overseas Filipinos has brought BCRemit to more than US$1 billion in total processed transactions, marking a major milestone for the Filipino-founded financial technology company.
Founded in 2016, BCRemit has now processed more than one million transactions and operates across 24 countries.
The company was created by former overseas worker Oliver “Bong” Calma and his son Jose Angelo “Gio” Calma. Their business idea came from a personal understanding of the problems faced by overseas workers when sending money home, particularly the high cost and long processing times of traditional channels.
BCRemit was built to provide a faster digital alternative.
“Our mission has always been to show that Filipino-led innovation can offer transformative solutions to the world,” said Oliver Calma, Founder and CEO of BCRemit.
One of the ways BCRemit approaches cross-border transactions is through blockchain technology and USD stablecoins. The company says its system brings the average transaction cost to approximately 1%, with zero hidden fees.
BCRemit compares this with the global average remittance cost of 6.4%.
The platform is also designed to shorten transfer times. Its infrastructure enables near-instant transactions, compared with the three-to-five-day delays that may occur through traditional banking networks.
Customers have several options for receiving money in the Philippines. BCRemit supports direct transfers to banks including BDO and BPI, cash pickup, and digital-wallet transfers to services such as GCash and Maya.
The company has expanded its services to cover other financial needs as well.
BCRemit Pay allows overseas Filipinos to make direct payments for SSS, Pag-IBIG regular and MP2 savings, loan repayments, property bills, and mobile top-ups. These services allow customers to handle selected obligations in the Philippines even while they are living and working abroad.
For customers who need assistance, BCRemit provides 24/7 human customer support alongside its digital channels.
The company’s expansion outside its original market has also been a key part of its 10-year development.
BCRemit entered Spain in June 2021 through licensed entity BC Remittance S.L., providing a regulatory passporting foundation for its European Union operations. It subsequently expanded into Canada in January 2022 and the United States in August 2022.
The company now says it operates in 24 countries.
Its next stage of development is expected to bring more focus to business and institutional customers.
BCRemit is scaling its cross-border payment rails to serve SMEs, BPO companies, and freelancers. It is also working on white-label payout integrations for third-party financial institutions.
Meanwhile, the company is preparing to enter new high-volume corridors across the Middle East and Asia-Pacific.
Saudi Arabia, Australia, Japan, and South Korea are among the priority target markets identified as BCRemit prepares for further international expansion.
The company operates within regulatory frameworks overseen by financial authorities including the Bangko Sentral ng Pilipinas, the UK’s Financial Conduct Authority, Banco de España, FINTRAC, and the Bank of Canada.
BCRemit says its services are designed to support a global population that includes more than 10.8 million overseas Filipinos.
Its 10-year milestone comes as the company moves into a broader role in cross-border payments, combining digital remittances with bill payments, wallet payouts, business settlement services, and payment infrastructure for financial institutions.
The company’s next decade will build on the same financial connection that shaped its beginnings: helping people move money across borders while developing technology that can support increasingly varied financial transactions.
Readers who want to learn more about BCRemit’s services can visit the company’s website and follow its official Facebook, Instagram, and TikTok.
ABOUT BCREMIT
BCRemit is a Filipino-founded global financial technology company providing digital remittance and cross-border payment services. Built around the needs of migrant workers, BCRemit enables customers to send money through its mobile app, website and supported service channels, alongside value-added services including bill payments, mobile top-ups and digital-wallet payouts.
Beginning its remittance journey in the United Kingdom in 2016, BCRemit has expanded across Europe, the United States, Canada, the Philippines and other markets and says its services are now available in 24 countries. The company operates within regulated financial-services frameworks in its respective markets and maintains a focus on technology, compliance, affordability and customer support.
For more information, visit the BCRemit website or download the BCRemit app through the Apple App Store or Google Play.