Pipit banking facilitates cross-border cash lodgement to an international bank account.
The growing Pipit Collection Network operates as an International Branch Network for our client banks.
Migrant workers without access to their national bank account are very restricted when it comes to remittance options e.g. branded cash transfer company (charges up to 12%) or illegal money transfer businesses.
Pipit banking fulfills the financial interests of a bank while ensuring continued ownership of their customer relationship, in the following ways:
- Captures additional revenue by building/retaining deposits
- Establishes a presence in the large unbanked customer segment
- Leverages a paytech solution that reduces the cost of providing banking services
- Earns income from fees for handling an end-to-end payment process