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Pay2Home app allows overseas remittance using cash at 7-Eleven
SINGAPORE fintech Pay2Home has launched a service to let users pay for their digital remittance transactions by cash at local 7-Eleven stores, it said on Friday.
Customers can now send cash overseas using the Pay2Home mobile app and pay with a generated QR code bill using cash at 7-Eleven's 400 stores island-wide.
The service targets the underbanked in Singapore, or those without a bank account or a debit card. This include migrant workers who remit funds as a basic necessity, said Pay2Home.
Pay2Home co-founder David Hulme said migrant workers in Singapore transact primarily in cash, and noted their home countries are cash economies.
"If you’re catering to a market that prefers cash and is more comfortable with cash, then it’s our responsibility as a fintech to make sure that our digital services are relevant to their needs. It’s about financial inclusion and education, but at their pace, not ours," Mr Hulme said.