A seismic shift is underway in the way Filipinos send money across the globe, thanks to a powerful new alliance between Visa and Bank of the Philippine Islands (BPI).
This collaboration introduces Visa Direct, a revolutionary real-time push payment platform designed to streamline and accelerate cross-border transfers like never before.
BPI customers will now be able to effortlessly send money to eligible bank accounts, cards, and digital wallets scattered across the world – a significant leap forward for international financial connections.
“Digital payments are transformative, and Visa Direct underscores our commitment to help Filipino retail and business customers, particularly micro to small and medium enterprises or MSMEs and SMEs, to connect to more opportunities globally through the power of secure and seamless money movement,” explained Jeffrey V. Navarro, Country Manager for Visa Philippines.
This initiative isn’t just about convenience; it’s about expanding financial inclusion, empowering more Filipinos to participate fully in the burgeoning global digital economy.
BPI’s Head of Strategy, Products & Support Group for Institutional Banking, Joel A. De Vera, emphasized the ease and security of this new system, stating, “Through our partnership with Visa, clients will soon be empowered to send money abroad directly through the BPI app, enabling real-time transactions that are faster, more transparent, and more secure.”
The partnership aims to dismantle the traditional complexities surrounding international money transfers, offering consumers a level of confidence previously unavailable – the assurance that funds will arrive swiftly and reliably, mirroring the familiarity of local transactions.
Visa Direct’s reach is already immense, having connected over 12 billion endpoints in more than 195 countries and territories, spanning 150 currencies since its inception over a decade ago.
Remarkably, Filipinos have emerged as some of Asia Pacific’s most enthusiastic adopters of digital remittances, according to Visa’s own research.
A recent study involving 44,000 remittance senders and receivers across 20 key countries revealed that a staggering 74% of Filipino respondents now prefer to send money digitally, with 66% favoring digital remittances for receiving funds.
The data paints a clear picture: 76% of Filipinos send remittances at least once a year, and a compelling 45% view digital remittances as the safest and most secure method for international fund transfers.
Despite a slight dip in February, cash remittances from overseas Filipino workers, channeled through banks, rose by 2.6% to $2.79 billion – a figure that, while positive, represents a decrease from the $3.02 billion recorded in January and the $2.66 billion seen in May 2025.
The annual remittance growth slowed to 3.5% in January, marking the slowest pace since June 2024, and February’s 2.5% growth reflects a more cautious economic climate.
Looking ahead, the Bangko Sentral ng Pilipinas projects a 3% increase in cash remittances, forecasting a total of $36.7 billion for the year – a growth rate slightly lower than the 3.3% observed in 2025.
This evolving landscape highlights a crucial transition: Filipinos are increasingly embracing digital solutions for international money transfers, driven by speed, security, and a desire to participate fully in the global economy.
