Send Money Safely: Telcoin remittances in the age of COVID-19 Telcoin Follow Apr 13 · 2 min read

Digital money transfers align with social distancing measures and comply with lockdowns.

Millions of people around the world rely on international remittances to support family members at home. As the world is impacted by the current COVID-19 pandemic, the ability to send and receive remittances the traditional way is severely hampered and carries unnecessary and unwanted risk.

On the sending side, remitters traditionally have to stand in lines at physical locations to initiate a transfer, increasing the risk of disease transmission via respiratory droplets and contact with shared surfaces. This is compounded by the burden of inconvenience and the expense of time lost in waiting to initiate a transaction.

On the receiving side, the situation can be even more complicated, as physical cash-out locations are shut down or lack routine servicing. Even if working properly, traditional cash out to fiat currency carries risk of contact with individuals, surface viruses, and of course, the physical cash that may also be a vector for viral spread.

A growing number of businesses and individuals around the world have stopped using physical currency in the form of bills and coins for fear that, being handled by so many people, it could be a vehicle for spreading coronavirus. Some governments around the world have resorted to taking paper money out of circulation, in some cases going as far as burning banknotes. It seems as though a full transition to digital currency is only a matter of time.

Using Telcoin to remit is not only faster and cheaper in many locations, but also smarter. As Telcoin releases the initial beta corridor from Canada to the Philippines this month, users are able to send money via an app on their mobile device to a recipient’s phone number instantly; no lines, no human contact, no hassle. The recipient can then receive the remittance into an existing mobile money account in-app via Telcoin’s local telecom and mobile money partnerships. This money can then be spent in a contactless digital format to pay bills, buy groceries, and more.

Telcoin has partnered with mobile money providers around the world and will be an integral part of the future of digital transactions. Telcoin offers an instantaneous, cost-effective, and contactless way to send and receive remittances to and from your loved ones.

Send money safely. Telcoin.