Pera Hub, the retail brand of Petnet Inc. has unveiled its digital remittance platform (DRP), touted as a pioneering offering in Southeast Asia that gives local financial service firms access to a global network.
The company said its Pera Hub DRP is the first aggregated, single Application Programming Interface (API) platform in the region that allows different businesses to integrate and connect to a network of retail and over-the-counter partners, major Philippine banks, remittance companies, digital wallets and other emerging fintech.
“When talking about APIs and dealing with partners who are banks, electronic money issuers, or other financial service providers, it is crucial that we always ensure the security of transactions,” said Bryan Makasiar, Pera Hub senior assistant vice president for digital business.
“As a company, we were able to establish that capability plus accessibility and convenience through our infrastructure and people, to get the nod from the BSP (Bangko Sentral ng Pilipinas),” Makasiar said in a statement.
He said the DRP was best suited for financial service companies looking to increase their distribution channels quickly through Pera Hub’s physical network and digital community partners, as well as companies with digital communities aiming to provide reliable and scalable financial services.
Pera Hub, which is part of the Aboitiz group through subsidiaries City Savings Bank and Union Properties Inc., has a network of more than 3,500 physical locations across the country.