For the 170,000 and more Filipinos working in Hong Kong as domestic maids, WeChat developed an international money transfer function for them to instantly remit money back to their families in the Philippines. So instead of waiting in line to wire transfer money on Sunday, their only day off in the week, they can now complete the task with a few clicks on their phone.
It’s a brilliant move by WeChat as they have been struggling with expanding to other parts of Asia and to increase the usage of the app beyond its 600 million active users in Mainland China.
Additionally, as a destination that received $32.8 billion in remittances in 2017, Filipinos working overseas become a no-brainer target audience.
Why it’s hot: The benefit for WeChat is threefold: market expansion, increase in cash flow and boost in brand image for adding value to people’s lives.