Category: Top Stories

The World Health Organization (WHO) has advised the public to shift to contactless transactions and avoid in-person activities as well as handling money as much as possible as they can be a potential COVID-19 carrier and accelerate the spread of the disease. This is not new since digital or online transactions have been existing around the globe for years already. Many businesses and banks have already pioneered digital transaction for the convenience of their consumers which includes easy payment and for security purposes.

 

Here’s a rundown of some activities you can do online to avoid in-person transactions.

 

• Check your balance
• View your bank and transaction statements
• Transfer funds
• Pay your bills, loans and other obligations
• Buy or sell goods

 

Moreover, when buying or selling products or services, what you need to do are the following:

 

• Pre-purchase/Sale – check the details of the product or service that is advertised online.
• Purchase/Sale – when you like a particular product or service, you buy it and make the payment online.
• Delivery stage – the goods that you bought will be delivered to you.

 

These stages in your online transaction are the easiest ways, so you will no longer need to go outside and travel back and forth from your house to a store.

 

How does digital or online payment work?

 

The no face-to-face transaction is really a big help amid the quarantine due to the COVID-19 pandemic. You can use it to help avoid the proliferation of cases. All you have to do is connect your device such as a phone, a desktop, or a laptop to the internet, and then choose to process your payment for goods or services through online transactions via debit card, credit card, or electronic funds transfer (EFT).

 

The first two choices are the most common ways of online payment here in the Philippines. The debit card is a direct debit transaction, meaning, it’s a way to transfer funds in real-time from a bank account to a merchant or an automated teller machine (ATM). By using the credit card, you can borrow money from a financial institution to make a purchase. Just don’t forget to pay full or on time to avoid paying the interest charges or late fees and make a minimum payment so you can pay less than the full balance. The latter option allows payment by using electronic signals to transfer money. When you start an EFT, signals are sent from the terminal via 128-bit encryption which makes it more secure in transferring your money. The 128 -bit SSL (Secure Sockets Layer) encryption renders 1 million different combinations, so it would be impossible for the average hacker to guess your sensitive information.

 

When using one of these options, you have to give information about the transfer, such as your account number, account holder name, and the transfer amount.

 

Due to the limited stores, banks, and businesses open and numerous applications for each, many are having a hard time processing their transactions. It’s very efficient now that there are non-bank financial services providers that are offering a single and efficient way to do all of your online transactions. Thanks to Cebuana Lhuillier Rural Bank, these are made possible through the Cebuana Lhuillier Micro Savings and the  eCebuana Mobile App.

eCebuana

By using the eCebuana app, you can do the following.

 

• Receive shipments from other banks to your micro-savings account.
• Send money to other micro-savings accounts.
• Check micro-savings balance.
• Send money to another Cebuana Lhuillier branch
• Make an e-load or pay your bills online

 

Cebuana Lhuillier Micro Savings

Cebuana Lhuillier Micro Savings is almost the same with any regular savings account, but the good thing about this is that it doesn’t require a maintaining balance. Kids as young as 7 years old can open their own Micro Savings account, and it can be considered as a  “kids savings” or  a “junior savings” account.

 

You can open your account by visiting the nearest Cebuana Lhuillier branch to fill out some forms. You will be needing P50 for the minimum initial deposit, a P100 card fee (for clients without 24k card), and one (1) Government-issued ID such as passport, driver’s license, birth certificate (for minors only), or student ID (applicable only if the student is currently enrolled).

 

And for faster and more convenient transactions, you may connect your Micro Savings account to your eCebuana app. By doing so, you need to connect and register your 24K card number to the application to proceed with your desired transactions.

 

COVID-19 truly challenges traditional banking and business habits, but through adapting to their digital solutions and fintech, you will no longer have difficulty making any transaction. It will not just make your life easier, but also safer.

 

If you want to know more about our services and products, visit us at our www.cebuanalhuiller.com

Coronavirus has affected millions of Filipinos around the world. Many have experienced significant financial losses; others have lost their jobs. Because of such, some of your loved ones may turn to different financial institutions to help themselves and provide for their daily needs. But the problem would be, those institutions can’t give much flexibility in loaning money. Their second option would be borrowing money from you.

 

It would be fortunate for them if it’s amenable for you to lend them a substantial amount of money to help them get through the crisis. But it’s also natural if you have second thoughts on lending money because lending money can turn awry. On the one hand, it’s terrible for you if they won’t be able to return the money; but on the other hand, you’re helping a family member get back on their feet.

 

If you decide to help them out, the question that’s probably running in your head would be, what’s the fair amount to lend anyone during this difficult time?

According to the New York times, before sending money to someone, you should first reflect on what your intention is—if it’s a loan or a gift. If it’s a loan, you should advise your loved ones the terms of lending him money. You may tell them that he can give back your money as soon as he already has a new job or clearly state that you will need the money at a particular time and if he could pay you back by that time. It’s important to tell them these kinds of things as many families are almost torn apart just because of money.

 

In any terms, you should prepare for lapses. It’s because lending money can have certain consequences that may occur after.

 

Let’s say that you have six months of emergency money.  If you gave two months of it to your sibling who was laid off from his work, don’t expect him to pay you back soon because it’s unsure whether your sibling can find a new job within two months. You should also have extra money for yourself should your brother fail to pay you back at the agreed time.

If you’re not comfortable with that kind of setup, you should ask yourself if you can afford to loan a loved one. Moreover, you should also probably consider planning before lending some money. Set clear payment terms before giving your loved ones a loan. It can help you clarify the appropriate amount to be remitted during this pandemic and the time you want to get your money back in full.

 

You must know when to draw the line in lending money. It’s nice to provide when you can, but if you also have your own liabilities, it’ll be smarter to make sure that you’re able to cover yourself first. It will be better for you to be honest with your loved ones or relatives about your current financial capabilities, so they’d understand. You don’t need to bleed yourself out just to accommodate everyone.

 

It might be awkward, but it wouldn’t be nice if you can’t pay your bills just because you’re trying to be generous when you couldn’t afford it. If you think you have more than enough, then that’s when you can extend your help to anyone.

 

Furthermore, there are also alternative ways to help if you can’t lend a lot of money to your loved ones.

 

For instance, your brother didn’t lose his job, but his company cut his salary as they experienced financial problems brought by the pandemic. In this case, if you can’t afford to send him money, you can lend him your vehicle temporarily, so he can use it to go to work. If he needs an internet connection, you can let him stay with you for a while to continue his work remotely. You may also consider sending him some food necessities to lessen his burden on where to get money to buy his food.

 

These simple acts of kindness can help your loved ones know that they’re not alone during this health crisis. You are right in being a responsible sibling and family member. You must be thankful that you are blessed enough to provide help and assistance to other people. Be that as it may, don’t forget to keep your finances in check. Make sure you have enough resources before keeping others warm.

 

Cebuana Lhuillier can help you to be more financially secured. With their Micro Savings, you can  open your own bank account to save money without maintaining balance. You can also use their other services like Pera Padala and pawning, where remittances and transactions are fast, convenient, and safe. So, what are you waiting for? Visit your nearest Cebuana Lhuillier branch today!

 

 

 

 

 

 

Gardening is booming during this pandemic. Many are calling themselves “Plantitos” and “Plantitas” as they take care of plants and grow their own food amid the quarantine. People also make use of propagating plants to relieve stress and save money.

But why is gardening so comforting? How can it help you to save and gain profit? Here’s what we’ve gathered.

 

Keeping you and the environment well

Being healthy is important and taking your time to reconnect with the environment will give you experiences that help you improve your health both physically and mentally. Science champions the power of planting as it can be a therapy to reduce stress, hypertension, depression, anxiety, and other mental illnesses. There are aromatic plants, that you can buy online or from physical stores, which help you remain calm. Meanwhile, the act of gardening is physically beneficial because you are using several of your muscles.

 

In addition, you can help the planet through planting or gardening. Plants give off the oxygen we breathe and take in carbon dioxide which helps the Earth’s atmosphere in providing you with fresh air and a cool climate. For some who don’t have outdoor space for this new hobby, you can make a small terrarium which can be installed inside your house as it doesn’t require much space. It will improve your household environment by minimizing extreme temperature and reduce energy consumption. You can also use this opportunity to learn or upgrade your waste management skills. It involves composting where you use decaying organic materials as a plant fertilizer. It will not only nourish your plants and crops, but also reduce your carbon footprint and generate less waste.

 

Furthermore, this new hobby can be good for family interactions. With everybody taking care of the plants, you can all reduce your dependency on gadgets and develop a deeper relationship with your family.

 

Access to food

There are different varieties of plants, vegetables, and fruits that can be found in our environment. Some establishments and businesses have seeds of such variety, but since it’s difficult to go outside because of the quarantine, there are online sellers whose products include organic seeds. You can also get some stems and seeds from the vegetables and fruits you bought or that are stored in your fridges such as peppers, onions, lettuce, tomatoes, guavas, and papayas. By planting their stems and seeds in your garden or terrarium, you can now have a better supply of food that you can assure of its quality–also, chemical-free.

 

Own a mini farmer’s market and SAVE!

Taking care of plants and producing your own crops can earn and save you some money. By making your own garden, you can eventually build your own mini farmer’s market. The plants and crops that you get from gardening can save you money from transportation to the supermarket and buy a bunch of food items. Then, you can actually earn as your market can be your friends, neighbors, or people buying online. You can sell them a 100% organic and 100% fresh as you can easily pick them up in the garden and have them delivered to your customers in an instant. This, surely, can be a better way to earn because the pandemic has caused shortages in the grocery store.

 

And to keep your savings safe, why not try to secure them through Micro Savings.

 

Cebuana Lhuillier offers you its Micro Savings product with no maintaining balance needed. So, you can put as low as P50 into your account until you can earn more from your mini-farmers market.

 

Clearly, gardening is going to play an important role in our society, during and after this pandemic. Being in quarantine can make you explore biodiversity, practice simple living, and at the same time, be an entrepreneur. That’s why it’s important that at this point, you’ll have access to at least a small garden, so you can expand in the future to avoid any new sources of carbon emissions and gain more profit.

 

If you want to know more about our services and products, visit us at our www.cebuanalhuiller.com

 

 

 

Customers of Western Union will soon be able to send and receive money transfers in the Philippines through Cebuana Lhuillier, as the two companies have teamed up to enable transactions between their two systems.

Under the partnership, customers can transact through the 2,500 locations of Cebuana Lhuillier and send or receive money via Western Union’s global network across over 200 countries.

The service is expected to be rolled out in the coming weeks, but a specific date has yet to be announced.

“In an age when speed, reliability and convenience mean everything, we are increasing the number of touchpoints where our customers can access our services and connect with their loved ones around the world,” said Jean Claude Farah, president of the Western Union Global Network.

“We welcome Cebuana Lhuillier to the Western Union family and are proud and excited to work collaboratively to reach more customers together,” he added.

For its part, Cebuana Lhuillier said the partnership will give Filipinos access to the Western Union network which covers over 550,000 retail agent locations.

“This partnership with Western Union is a prudent step in ensuring accessibility for the millions of Filipinos around the world and in paving the way for a future-proof network with presence in almost all parts of the globe,” said Jean Henri Lhuillier, president and chief executive officer of Cebuana Lhuillier.

“We are more than thrilled to collaborate with Western Union as their company values line up perfectly with our core of facilitating financial inclusion for the underserved Filipinos and expanding our reach makes that all the more possible,” he added.

Cebuana Lhuillier, the leading microfinancial services provider, has taken a bold leap into the future with the introduction of the eCebuana App. The app boasts brand new features to enhance connectivity for Ka-Cebuanas everywhere.

“The eCebuana app is one of our many digital initiatives set to transform the company into a full-fledged microfinancial services company supported by groundbreaking technology which can meet the various microfinancial needs of our clientele who usually have difficulty accessing digital services, let alone microfinancial services.” said Cebuana Lhuillier president and CEO, Jean Henri Lhuillier.

The eCebuana App enables Cebuana Lhuillier clients to conveniently access microfinancial services such as Micro Savings, Money Remittance, Bills Payment, and E-load services among others. The e-Cebuana app and microsavings are products of Cebuana Lhuillier Rural Bank.

In modernizing services, Cebuana Lhuillier has launched the eCebuana App, boasting new features to enhance connectivity for Ka-Cebuanas everywhere.

“The eCebuana app is one of our many digital initiatives set to transform the company into a full-fledged microfinancial services company supported by groundbreaking technology which can meet the various microfinancial needs of our clientele who usually have difficulty accessing digital services, let alone microfinancial services.” said Cebuana Lhuillier president and CEO, Jean Henri Lhuillier.

 

The eCebuana App enables Cebuana Lhuillier clients to conveniently access microfinancial services such as Micro Savings, Money Remittance, Bills Payment, and E-load services among others. The e-Cebuana app and microsavings are products of Cebuana Lhuillier Rural Bank.

With the mobile app, users can transfer money from their Cebuana Lhuillier Micro Savings accounts to other Micro Savings accounts, or have the money picked up at any Cebuana Lhuillier branch with 20% less on fees. Users may also opt to transfer money to other banks through Instapay.

Users with Cebuana Lhuillier Micro Savings account may also check their balance regularly through and monitor their savings journey by checking the user level they’ve obtained.

 

The app has already racked more than 350,000 downloads and will be fitted with more features in the future such as a Pawn Renew Online service and the capability to open Micro Savings accounts without having to visit the branch.

COVID-19 has already affected over close to 12 million people worldwide and has claimed the lives of more than 500,000 individuals.

The surge of infected individuals has prompted for countries around the globe to observe physical distancing and when that proved to be difficult, lockdowns were put in place. These lockdowns or as they are called in the Philippines, Community Quarantines have halted the lives of many people and most especially their livelihood. Given that only essential industries are left functioning and more than 7 million Filipino workers are displaced, financial services have become crucial to the larger population. Access to financial services has become a challenge since going out of the house poses threats and movement is still limited with quarantines in place.The situation has prompted a shift to digital transactions and expanded use of the digital space as well.

As answer to this movement, microfinancial services giant, Cebuana Lhuillier has made it possible for its clients to send money from the comforts of their own homes.“This is one way that Cebuana Lhuillier has adapted to the challenges posed by the pandemic, our Remit-From-Home service makes it much easier and safer for our clients to help their loved ones weather this storm. Cebuana Lhuillier has been and will be with the Filipinos whatever the challenge may be,” said Jean Henri Lhuillier, president and CEO of Cebuana Lhuillier.

The Remit-from-Home service allows clients to send money without having to leave their house and going to Cebuana Lhuillier branches but instead does their transaction online with the help of Cebuana Lhuillier agents. The service is no different to the branch transaction and carries the same safe and secure money transfer Cebuana Lhuillier is known for. Clients can access the Remit-From-Home service by logging on to https://remitfromhome.cebuanalhuillier.com/ and accessing the electronic form for remittance or via the ECebuana App through Instapay.

Cebuana Lhuillier, the Philippines’ largest micro-financial services provider, has partnered with LBC Express Inc., the market leader in retail and corporate courier and cargo, money remittance, and logistics services, to further expand the reach of its local remittance business.

The partnership will provide Cebuana Lhuillier clients with access to a wider range of domestic remittance facilities, leading to more convenient and more accessible money transfers to their loved ones—leveraging on Cebuana Lhuillier’s 2,500 branches nationwide and LBC Express’ 1,400 cargo and logistics facilities, including its domestic partners and agents.

“For more than 30 years, we have been committed to ensuring that every Filipino will have access to the financial services they need. This partnership with LBC Express is a testament to our company’s decades-long commitment to provide relevant services by continuously expanding our reach, developing more innovative platforms, and exploring more untapped channels to enable the unbanked and underbanked Filipinos better access to financial services,” said Jean Henri Lhuillier, Cebuana Lhuillier president and CEO.

Cebuana Lhuillier senior executive vice president Philippe Andre Lhuillier adds, “Both Cebuana Lhuillier and LBC are known in the industry for providing linkages to every Filipino and their loved-ones. Through this partnership, KaCebuanas, regardless of their location in the Philippines, will have access to additional domestic remittance outlets available nationwide through LBC’s network.”

The partnership of two of the country’s most recognized brands is a practical step to owning the last mile in the local money transfer business. 

“By combining LBC and Cebuana Lhuillier’s extensive network, we’ll be in a much better position to reach more Filipinos. This joint venture will allow us to expand our services, offer more convenient and innovative solutions and ultimately, move more lives. This meaningful tie-up is in line with our mission to bring our services closer to everyone,” said Miguel Angel Camahort, LBC Express Holdings Inc. president and CEO.

As a company that offers an extensive line of financial solutions to Filipinos, Cebuana Lhuillier is dedicated to establishing its presence in new and strategic areas nationwide. Part of this is the development of retail and corporate partners to expand its remittance network. LBC serves as the perfect partner that will help Cebuana Lhuillier fulfill this goal, thanks to its strategic locations spread across the Philippines. 

LBC Express is the country’s pioneer express delivery and cargo shipping and 24-hour door-to-door delivery. Today, it is one of the most trusted courier, cargo and logistics, and remittance service providers with a combined network of 6,400 locations, partners, and agents in over 30 countries.

Written by Mike Mislos

August 8, 2019 – Cebuana Lhuillier taking a stake in blockchain and fintech startup SCI last June is a sign of change for both companies when it comes to how they plan to forge their future ahead together. The partnership will signal SCI playing a role in their digital transformation while also potentially helping the trusted remittance outlet to explore blockchain and cryptocurrency. One low hanging fruit is enabling the use of blockchain-powered transactions or financial services via Cebuana outlets across the Philippines.

Last Mile Powerhouse Cebuana Lhuillier

In remittance transactions, the last mile refers to that outlet where a customer can finally withdraw the cash sent to them by someone, probably from abroad or the metro. In the local setting, we sometimes refer to pawnshops and money changers as the last mile outlets. The largest of them all is Cebuana Lhuillier.

With over 2,500 branches in the Philippines, Cebuana Lhuillier is in front of more than 70% of the country’s unbanked population. Recognizing digital transformation as its next big priority, Cebuana’s parent company P.J Lhuillier is aware of the trend where fintech companies partner with brick and mortar remittance outlets to create a digital presence or update their old processes with the times.

SCI Stake Acquisition

Because of that, P.J Lhuillier acquired a stake in SCI Ventures (Satoshi Citadel Industries) in order to kickstart this digital transformation. SCI will be a key piece in a multi-pronged approach to introduce cutting-edge financial technology to Cebuana Lhuillier’s 4,000 domestic partners and one million combined physical and virtual touchpoints worldwide.

SCI Ventures and Blockchain

SCI, a pioneer Bitcoin and blockchain company in the Philippines is at the forefront of the rising demand for cryptocurrency and other digital assets. As one of the few companies in the Philippines with a virtual currency license, it is legally allowed by the government to facilitate crypto to fiat transactions and vice versa. Data from the country’s Central Bank, the Bangko Sentral ng Pilipinas (BSP) has revealed that virtual currency transactions have doubled in 2018. If we looked further, data from 2017 also revealed increased crypto transactions in the Philippines vs the previous years. This data came from reports submitted by virtual currency-licensed companies like SCI Ventures.

Low Hanging Fruit

SCI Co-founder Miguel Cuneta welcomed the partnership with the giant financial service provider as a step forward for both companies. “We hopefully will be able to play a role in Cebuana’s move into the digital fintech world, and maybe even explore potential use cases for blockchain technology and cryptocurrency in the future,” he said in our exclusive interview.

One low hanging fruit, he said, is enabling the use of blockchain-powered transactions or financial services via Cebuana outlets. This is significant because, currently, Cebuana Lhuillier has 11 million active users in their loyalty card program and serves over 25 million Filipinos around the world.

“They basically have the audience already onboarded. Cebuana is one of the most trusted brands in the country, and since trust is a major consideration as to why Filipinos would use a financial service, they already have that advantage going for them.”- Miguel Cuneta, Co-founder, SCI Ventures

Cebuana Lhuillier President and CEO Jean Henri Lhuillier said:

“This is another milestone in our continuing pursuit to expand our horizon and make a significant impact as we enter the digital arena. With our robust 2,500 branch network and strong partnerships with key financial players such as SCI in place, we are ready to take advantage of our unique ‘bricktech’ set-up and make our mark”

One Step Towards Blockchain and Crypto Awareness

With the country being one of the biggest recipients of remittances from around the world, Cebuana Lhuillier can benefit from using blockchain as a way to move money. Apart from transfer speed, what’s important here is the cost efficiency because with blockchain, there is no need to trust more middlemen companies and will allow more partners that can make use of Cebuana as a cashout partner.

SCI Ventures is not just doing business remitting money through blockchain. For many years, it has been a thought leader in the blockchain and crypto space in the Philippines, spreading the tech’s advantages and usecases through meetups, seminars, and even conferences, government, universities, and private offices where they are often invited to talk more about this disruptive technology. The partnership will potentially allow SCI to have a more hands-on approach in Cebuana’s transformation and will make them more aware for the possible use cases of blockchain and cryptocurrency. As mentioned, Cebuana Lhuillier is the biggest non-bank financial institution in the Philippines. Turning them into blockchain can make haste of one of SCI’s vision – to use fintech and blockchain technology to provide accessible financial services for everyone.

Cebuana Lhuillier, the country’s largest microfinancial services provider, has launched a mobile remittance application, Quikz, in the United States, through its partnership with Pangea Money Transfer.

“Partnering with Pangea allows us to help improve the lives of our customers and better connect them to their family members overseas,” said Jean Henri Lhuillier, president and CEO of Cebuana Lhuillier. “Pangea’s secure, quick, and easy money transfer technology supports better financial security and more opportunities for Filipinos who want a convenient way to send and receive funds.”Through the money remittance application, Cebuana Lhuillier customers will soon own more of the transfer process and directly connect to senders in the US. 

“We are excited to work with Cebuana Lhuillier on this groundbreaking service for Filipino customers in the United States. This partnership expands our mobile remittance technology to even more senders, contributing to our goal of bringing effortless money transfer to those who need it most.” said NishuThukral, Pangea Money Transfer CEO, as the partnership is expected to bring Pangea’s international money-sending solution to a massive user base.

Available on the Apple App and Google Play stores for customers in the United States, Quikz is powered by Pangea Connect and is the company’s new Remittance-as-a-Service (RaaS) offering. Cebuana Lhuillier’s mission of enabling more Filipinos to have access to financial solutions ties perfectly with Pangea’s goal of financially empowering underserved communities. Pangea’s technology, meanwhile, works well with Cebuana Lhuillier’s brand salience and its extensive network of 2,500 branches nationwide to create a seamless money remittance service. As Cebuana Lhuillier Quikz continues to gain momentum, Pangea and Cebuana Lhuillier will make adjustments to further tailor fit the mobile app to the needs and preferences of users worldwide. Pangea plans to kick off more brand partnerships, expanding its RaaS offering to companies in other territories around the globe.