Tempo Money Transfer, has successfully completed integration with the financial platform, Stellar.
Clients are able to send global remittances from Europe through the Stellar e-wallet, online or by visiting Tempo locations. At launch Tempo is integrated via stellar with Coins.ph which allows clients to send funds to anyone in the Philippines by using their name and mobile phone number. The recipient receives a notification on their mobile phone and a Coins.ph account is created for the recipient automatically. The client can then receive the funds out of their Coins.ph wallet, initiate a bank transfer, request home delivery as well as cash pickup throughout the Phillippines.
In his comments to the launch of the joint project, the CTO for Stellar, Mr Jed McCaleb said that these partnerships bring the company closer to one of its goals: substantially lowering global remittance costs by improving cross-border payments, making them more efficient.
““This is the start of achieving our mission of enabling a worldwide financial network that anyone can use, ” he said.
Tempo's CTO, in turn, noted “the blockchain technology that backs networks such as Stellar will revolutionize international payments. In particular Stellar solves many of Bitcoin's problems such as Exchanges getting hacked, higher transaction throughput, anti-terrorist protocol and provides an average of 3 second settlement vs Bitcoins 10 minutes. It also provides a standard api that like email could transform the world,” said Mr Anthony Barker.
“This will allow our clients to send funds faster, more reliably and for less money.”
Recently, the company has actively been working on the introduction of new products and transfer channels, particularly implementing its option to send money online from its website.
This project will feature a significant geographical spread and wide range of opportunities for customers. The Paris-headquartered company has been very active in the Philippines in particular.
Tempo Money Transfer’s services are now available in nearly 12,000 locations across the country, the total number of locations in the Asian region having increased to over 22,000.
According to the latest statement, the number of cash agent locations soared to more than 218 in Germany and France.
The company's main focus of activity is sending money from Europe to the rest of the world. The total number of locations where its services are available, increased to reach 195,000 while the number of countries has reached almost 120.