PEARL PAY is a project that promises to revolutionize the Philippines banking industry by enabling the rural banks in the country to introduce their virtual prepaid Pearl Pay and MasterCard accounts. The project will significantly reduce the time and cost of local and international money remittance in the country.
Total tokens available: 500M PRLPAY tokens
Presale coin sale dates: July 10 – August 30
Public coin sale dates: September 1 – October 30
Price per token: 1 BTC = 40,000 PRLPAY, 1KMD = 13,000 PRLPAY
Soft cap: 25M PRLPAY tokens
Hard cap: 175M PRLPAY tokens
Accepted currencies: BTC, KMD
The Philippines Banking Industry
In the Philippines, about 79 percent of the banks are rural based. Consequently, only a handful of these banks have membership in a foreign payment network like MasterCard and Visa. Access to E-Money in the country is a nightmare as about 94 percent of these rural banks do not have one. Moreover, most E-Money transactions in the country rely on capital-intensive chip card-based technologies.
The Role of Pearl Pay in the Philippines Banking Sector
Pearl Pay is a Virtual Money Logistics Systems that offers high-quality mobile wallet white-label service to the rural banks in the Philippines at an affordable price. Pearl Pay is also a platform that will integrate various third-party services such as innovative payment solutions, Crypto exchange, and money remittance. The beneficiaries of this project will include MSMEs (Micro, Small, and Medium Enterprises), OFW (Overseas Filipino Workers), and the rural banks.
To achieve its goal, Peal Pay will collaborate with MatchMove, Komodo, and Creo. MatchMove enables businesses to provide mobile wallet solutions thereby boosting their income. Komodo Platform uses decentralized technologies to address the existing socioeconomic challenges. Creo works with MSMEs, enhancing their online presence.
Due to the lack of E-Money in the country, even sending money within the country and paying utility bills is both expensive and time-consuming. The introduction of Pearl Pay will see a drastic reduction in transaction time and cost for the benefit of the banks and their customers.
Given that most of the rural banks don’t support E-Money, Pearl Pay will be crucial in assisting them to achieve this capability. The Pearl Pay mobile wallet will enable these banks to introduce their virtual prepaid Pearl Pay account within 30 days. This will allow bankers to access their money safely and conveniently. It will also save the time wasted by bankers going to the nearest bank to withdraw their money.
PEARL PAY on Social Media
Pearl Pay understands the power of social media as a marketing tool. To reach more people, the company has a Facebook book page where it regularly updates prospective users and investors about the project. You can also follow them on Twitter and be assured to never miss any of their informative tweets. There is a Telegram group where you can interact with the company’s representatives and other people like you with an interest in the project.