2023 New Value Report

Global Payments Shouldn’t Be Stressful: Joyce’s Story

Feature Image

Pay Forward is a new video series from Ripple that highlights the stories of people around the world directly impacted by cross-border payments.

According to the Philippine government, over 2.3 million Filipinos left the country to work overseas in 2018. But for many, their family and friends are still back home and rely on them to send back a portion of their pay. Unfortunately, this is more difficult and stressful than it needs to be.

Meet Joyce
As a single mother, Joyce de Guzman needed a job to support her family and put her two young daughters through school–something that seemed unlikely at home in the Philippines. “I want my daughters to become professionals someday,” Joyce said. “This is my dream. This is my goal.”

She accepted a job in Dubai that required a minimum two-year commitment, meaning she would only see her daughters after the contract ends.

Sending money home is unreliable, inconvenient and time-consuming
In Dubai, Joyce works 12 hours a day, six days a week and spends as much time as she can texting and chatting with her daughters. On her single day off, she spends hours commuting, standing in lines and completing complicated forms at her local payment provider to send money home. “It’s not easy to send them money,” she said. “I go to the shop, then I get in line, then I need information about the sender. Two hours like this.”

Even more troubling is that she does not receive a confirmation if and when her payment is delivered. Her daughters often travel back and forth to and from the bank several times, paying for transportation each way, before finally receiving the money their mother sent.

Joyce says that a more efficient solution would allow her and other Filipinos who send money home more time to actually rest on their days off, as well as provide her daughters more money to go toward school and pay expenses.

This struggle is not just unique to Filipinos. Globally, it is estimated that some 800 million people around the world are supported by overseas workers.

There’s a better way
Ripple is focused on addressing the problems that Joyce and millions of others face around the world. RippleNet helps financial institutions help customers like Joyce, enabling them to provide a faster, more reliable and easier way for millions to send money home. If you’re interested in learning how RippleNet can help you better serve your customers, contact us.

Related stories

Subscribe to the Ripple Newsletter