TrueMoney Centers Has Got 1 Million Served!

This would have been an impossible feat for some but not for the TrueMoney Centers in the Philippines. You see in less than a year, they have just had their 1 Millionth customer.. something they've truly been proud of and treat as a milestone. We're a country run partly by overseas Filipino workers (yes and clearly part of the GDP growth) and sending money home is just something essential to us. It's culture to care for family left in the Philippines and more so during the Christmas season. It's a season everyone has been waiting for and with services like these popping up left and right, people are trying to save a buck whenever they can. It's not cheap to actually send money to the Philippines, even inside the country itself, so in a way True Money is revolutionizing sending money as they introduce a cheaper but efficient alternative.

As for trust, TrueMoney Philippines is a brand under Fintech which is part of Ascend Money under C.P. Group of Thailand and Ant Financial (of Alibaba Group). They initially only had a couple of pilot partners in the past but now has grew up to 5,000 TrueMoney Centers in less than a year. They have now been able to become one of the largest payment and remittance networks in the country. The goal is to have innovative and affordable financial services to areas in the country that don't have banking or money transfer services. To go to underserved parts and become essential to commerce according to their CEO Xavier Marzan.

Now they've got payment and e-commerce centers in different provinces like North, South and Central Luzon, far flung areas in Mindanao but considers these areas as their starting points. They are still growing and steadily looking for partner centers. Imagine, they've got the lowest rates for domestic remittances which goes to about 2% compared to other existing competitors that have 3-10% which is unreal. They sometimes even charge the recipient which is not a good thing. Like if you send through them now Php 1,000, they would only charge Php 20 for that. Isn't that good news?

If you want to know more about how to send money through their centers or become their partners, visit their website at www.truemoney.com.ph. You may also call them at 7189999 or their mobile numbers 09778063775.

$700B bailout for US; Shucked by Congress (O_O)

Lehman Brothers suffered on this market downfall

Lawmakers yesterday disapproved the $700 Billion emergency rescue for the nation's financial system. Now people like me await what will happen to the world's largest economy. Just this morning I read that the Dow Jones plunged 777 points which has been the biggest drop in the country's chunk for a long time. Where does the US Government go now?... most probably back to the drawing board. When I arrived from gym this afternoon, even Europe markets came tumbling down and bailed out their own banks. I heard the British would also be helping the US banks to recuperate the funds they lost through stagnant real estate losses in the country's market. I'm sure even Ed McMahon understands how difficult this is... he almost lost his house remember?

Henry Paulson is not happy =/

Treasury Secretary Henry Paulson said after he and Federal Reserve Chairman Ben Bernanke joined in an emergency meeting to look for strategies that would resolve this crisis... and said that they need to put together something that really works! The Democrats hope that when they go back in session, that they would be able to put up what is needed and what would eventually be workable in all aspects. Good thing the Philippine banks don't have anything invested in that bank. We even had gains a few days ago as the OFW's valuable dollar surges this season. Thanks to that huh?! ^_^

Now, let's just wait for the congress to reconvene and fix this problem. Then hope the market does not continue to plunge into an unrecoverable state. The US cannot afford this huge kick in the shin. Time is of the essence, they need to do it fast too... I hope sometime soon.