With more and more merchants accepting cards and with ecommerce ecosystems rapidly growing everywhere, I asked myself, Point-of-sale (POS) terminals and smartphone-based card readers were common in stores and restaurants, taxis accepted digital payment with Grab, and I could even pay a hospital bill with my card as well. It was a small but interesting observation that for the first time, I hadn’t used cash at all in the Philippines.
POMELLO MOBILE HOW TO
I was on sabbatical after founding and running a database technology startup called Singlestore for 7 years, and I had finally relearned how to let my mind wander. How Pomelo StartedĪs someone who has firsthand experience with the problems of money transfer (my family regularly sends money to relatives in the Philippines), the idea for Pomelo emerged during an extended visit to Cebu right before the pandemic. For many of our customers, Pomelo is their first credit card here in the US and the very first card for their loved ones overseas. Most important of all, we aim to help our customers establish their financial future here in the United States by building positive credit history with their existing remittance obligations, and to financially include their loved ones in emerging economies with access to modern financial instruments. By empowering customers to share spending power instead of sending cash, we hope to solve the worst aspects of money transfer: the exorbitant fees, the long waits, and the universal concern about funds in flight, that loved ones make it home safe carrying those funds and spend it wisely. In partnership with Mastercard, Pomelo has developed a new type of credit card with unique features that allows our customers in the United States to extend and allocate credit to their loved ones around the world. Pomelo is the first financial technology platform to combine consumer credit and remittance transfer.
Today I am very excited to unveil Pomelo, a new way to send money around the world with credit that crosses borders, with a mission to change how international money transfer fundamentally works.
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