The Palawan Group of Companies remains optimistic on the continued growth of Palawan Pay, the mobile app now used by about 22 million Filipinos, as digital money transfers become more popular.
During the launch of the company’s partnership with global remittance provider Ria Payment Institution on Wednesday, CEO Karlo Castro said Palawan Pay has a “sizable percentage” of active users, with the total user base increasing by 2 million this year alone. The app, launched in 2021, continues to see triple-digit growth in usage, driven by new features that boost active engagement.
Castro declined to disclose specific remittance volumes but confirmed strong momentum across both over-the-counter and digital channels, noting that digital transactions already account for roughly one-fourth of the company’s total.
Vice chair and CFO Lilian Castro-Selda said the Ria partnership had already been operating quietly for months before the formal launch, delivering “very good” results even without marketing support.
Ria regional director for Asia Pacific Steve Peregrino expressed confidence in the partnership’s potential, citing the global reach of overseas Filipino workers (OFWs). He highlighted the significant contribution of Filipinos to economies worldwide, saying the Philippines “has a hand in the growth of every single economy in the world.”
“I guess this is a point of inspiration. We are such a truly global race. We are all over the place in a very good way. We take pride empowering the growth of economies and nations. You cannot take away that. You cannot take growth and take out the Philippines. And the Philippines, one way or another, has a hand in the growth of every single economy in the world. I guess we can just be very proud in that place,” he added.
PALAWAN PAY SCREENGRAB