In an era of legendary Manila traffic, smog, province to province commute, and all the sacrifices and hardships of the original OFW, it’s music to the ears to learn that a lot of our countrymen are finding more innovative ways to earn their living.
According to recent survey conducted by Payoneer Philippines, the current industry on shore-to-shore payments are enjoying more and more the fact that they can earn without the need to battle it out with road warriors or those that need to stay at home for their new families among many other concerns. The same study revealed that most of the online force come from the age bracket below 39 years of age and about 10% belong to those 40 and above.
“This means that the market is all-inclusive, even those that grew up without internet are embracing the fact that they can basically work from anywhere and managed to gain income from across the globe.” said Miguel Warren, Payoneer Regional Head for Southeast Asia, Bangladesh, Sri Lanka and Pakistan.
Payoneer, an innovative digital payments company for sending and receiving cross-border payments, has seen over three times of growth in monthly payments in its first year with online outsourcing and export markets.
The buck doesn’t stop there as the New York-based financial technology (fintech) firm is setting their sights on serving BPOs, e-Commerce sellers, and online SMEs starting from the Philippine office to branch our to Southeast Asia with the country at the center.
“We are committed to making a difference by empowering not just freelancers but also e-Commerce sellers, BPOs, and entrepreneurs. We can support them by offering tools and secure payment solutions that will enable them to participate in the global economy and help them maximize their income-generating potential,” Warren said.
The company is also launching Australian and Canadian currency receiving accounts to complement the other currency accounts it provides its customers including USD, EUR, GBP, CNY and JPY. This service empowers Filipino freelancers and SMEs to get paid by their Australian clients quickly, easily and at very low-cost.
Payoneer’s growth in the Philippines echoes the global growth of the freelance economy and soon thereafter to other industries as the company scales for more inclusive growth.