Manila, Philippines — BCRemit is beginning its second decade as a Filipino-founded global fintech company after recording more than US$1 billion in total processed transactions and more than one million transactions across its network.
The milestone comes as the company prepares to broaden its role in the international payments market, moving from its roots in consumer remittances toward services for businesses, freelancers, BPO companies, and financial institutions.
BCRemit was founded in 2016 by Oliver “Bong” Calma and his son Jose Angelo “Gio” Calma. Oliver Calma’s experience as an overseas worker helped shape the company’s original focus.
The founders had experienced the cost and delays associated with sending money internationally and built BCRemit to provide OFWs with a faster way to send financial support to their families in the Philippines.
“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.
The company has used blockchain technology and USD stablecoins as part of its payment infrastructure. BCRemit says this approach has allowed it to maintain an average transaction cost of approximately 1%, with zero hidden fees.
The company cites the global average remittance cost at 6.4%.
Its infrastructure is also designed for speed. BCRemit supports near-instant transfers, offering an alternative to legacy banking networks where international transactions can take three to five days.
The company has developed multiple channels to make funds accessible to recipients in the Philippines. Customers can send money to banks such as BDO and BPI, use cash pickup locations, or transfer funds to digital wallets including GCash and Maya.
Remittance is not the only service available through the platform.
BCRemit Pay allows overseas Filipinos to directly settle several types of payments, including SSS contributions, Pag-IBIG regular and MP2 savings, loan repayments, property bills, and mobile top-ups.
At the same time, BCRemit maintains 24/7 human customer support to complement its online services and provide assistance for customers handling important financial transactions.
The company’s international development accelerated in the years following its initial launch.
BCRemit entered Spain in June 2021 through licensed entity BC Remittance S.L., establishing a regulatory passporting foundation across the European Union. The company then expanded into Canada in January 2022 and the United States in August 2022.
It now operates across 24 countries.
BCRemit is using its 10-year milestone as a starting point for its next stage of expansion.
The company is scaling its payment rails to support SMEs, BPO firms, and freelancers that need to send or receive funds across borders. It is also developing white-label payout integrations for third-party financial institutions.
Additional market entries are being prepared in the Middle East and Asia-Pacific, where BCRemit has identified Saudi Arabia, Australia, Japan, and South Korea as priority target markets.
The company’s expansion is being carried out within regulated financial-service frameworks. BCRemit operates under the oversight of 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 for a market connected to more than 10.8 million overseas Filipinos worldwide.
The company’s 10-year journey therefore reflects a broader shift in its business model. What began as a digital solution for OFWs sending money home has developed into an international payment platform with services covering consumer remittances, bill payments, digital-wallet payouts, business settlement, and planned institutional integrations.
As it looks toward its next decade, BCRemit is preparing to expand both the markets it serves and the types of cross-border transactions its infrastructure can support.
To explore BCRemit’s services and learn more about its international payment network, visit the official BCRemit website or follow the company on 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.