PETNET

What PETNET does

PETNET Inc. is a Philippine-incorporated, Bangko Sentral ng Pilipinas (BSP)-regulated financial services company founded in 1998, headquartered in Makati City with a satellite office in Cebu City. Since 2018 it has been controlled by City Savings Bank (CSB) and UBP Investments Corporation (UIC). The company operates through three core brands: PERA HUB, a retail financial services network of more than 3,000 physical branches and sub-agent locations nationwide offering remittances, bills payment, e-load, microinsurance, money changing, airline ticketing, ATM withdrawals, and cash-in/cash-out; PETNET Forex Solutions, a corporate division providing forex trading, cross-border payments to over 300 countries and territories in over 130 currencies, and international tuition payments; and the PERA HUB Digital Remittance Platform (DRP), a single aggregated API launched in 2021 that connects mobile wallets (GCash, PalawanPay, UnionBank, RCBC DiskarTech) and remittance brands (Western Union, Remitly, Ria, Transfast, Metrobank) to a network reaching over 100 million Filipinos.

The company's product surface spans consumer-facing branch services, a mobile app launched in 2023, B2B enterprise forex, and ecosystem partnerships with more than 20 counterparties across remittances, microinsurance (Malayan Insurance, Prudential Guarantee, COCOGEN, AVO, RuralNet, CashKo), lending referral (Skyro), airlines (AirAsia, Cebu Pacific), bills payment (Bayad), education payments (Convera), and telco e-load (Globe, Smart, DITO, Load Central, Cignal Digital TV). Revenue is generated primarily through transaction and service fees on remittances, bill payments, cash-in/cash-out, e-load, loan referrals, and microinsurance distribution; forex trading spreads on corporate and MSME cross-border transactions; and dollar-to-peso money changing at branches.

Go-to-market is multi-modal: physical branch retail for consumer financial services, direct B2B enterprise sales for PETNET Forex Solutions, and an API-first model via the DRP that enables digital sub-agents and fintech/wallet integrations. The company employs over 1,000 staff and has received regional recognition including the 2024 Asian Technology Excellence Award for DRP, the 2023 Asia Banking and Finance Fintech Digital Innovation of the Year (Philippines), and the 2022 Philippines Technology Excellence Awards. Regulatory compliance includes BSP oversight, AMLC supervision, Data Privacy Act of 2012 compliance, and adoption of Quality Management and Information Security Management Systems aligned with ISO standards.

Name

PETNET

Legal name

PETNET, Inc.

Website

https://petnet.com.ph

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

501–1,000 employees

Short description

PETNET Inc. is a BSP-regulated Philippine financial services company operating PERA HUB's 3,000+ branch retail network, PETNET Forex Solutions for corporate cross-border payments, and a Digital Remittance Platform API serving Filipino consumers, MSMEs, and fintech partners.

Ownership category

akta.pro rank

Headquarters

HQ city

Legaspi City

HQ country

Philippines

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Transaction and Service Fees: Fees charged for financial transactions including remittances, bill payments, cash-in/cash-out, e-load, loan referrals, and microinsurance sales
2. Forex Trading Services: Foreign exchange trading and cross-border payment services for corporate clients, generating revenue through exchange rate spreads and transaction fees
3. Money Changing: Dollar to peso currency exchange services at branches nationwide
4. Microinsurance Distribution: Commission-based distribution of microinsurance products (Accident Protect, CTPL, Dengue Protect Plus, Pera Payapa) through partner insurance companies

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

PETNET Inc. is a Philippine-based financial services company operating the PERA HUB retail network and PETNET Forex Solutions. The company provides domestic and international remittances, money changing, microinsurance distribution, retail loans, bills payment, ATM withdrawals, e-loading, airline ticketing, and corporate foreign exchange trading through more than 3,000 branches nationwide. It also offers a proprietary Digital Remittance Platform with aggregated API connectivity for institutional partners.

Product overview

PETNET Inc. is a BSP-regulated financial services company founded in 1998, operating a multi-brand portfolio of financial services through its PERA HUB retail network and PETNET Forex Solutions corporate division. The core offering is PERA HUB, a comprehensive retail financial services platform offering urgent transactions including loans (direct and referral via Skyro), domestic/international remittances (Western Union and digital brands), bills payment, cash-in/cash-out, e-load (Globe, Smart, DITO), microinsurance, airline ticketing, ATM withdrawals, and money changing. The company also operates PETNET Forex Solutions, a corporate arm providing forex trading and cross-border payments to businesses. The PERA HUB Digital Remittance Platform serves as an API-powered aggregation layer connecting multiple fintech and remittance partners. With over 3,000 physical locations nationwide and a growing digital presence through mobile apps and partner integrations, the company positions itself as bridging traditional retail banking services with digital financial solutions for Filipinos.

Differentiator

Problem solved

Functional benefit

Brands

• PERA HUB Digital Remittance Platform: A digital remittance aggregation platform that connects retail, remittance, and fintech brands to conduct financial transactions, powering services like GCash international remittances.

Products and services

• PERA HUB Remittance Domestic and international remittance service enabling customers to send and receive money transfers across more than 3,000 PERA HUB branches in the Philippines.
• PERA HUB Loans Retail lending products available at PERA HUB branches targeting individual Filipino consumers for personal financing needs.
• PERA HUB Bills Payment Over-the-counter bills payment service allowing retail customers to settle utility, telecom, and other recurring bills at PERA HUB branches.
• PERA HUB ATM Withdrawals Cash withdrawal service for bank cardholders offered through PERA HUB branch terminals nationwide.
• PERA HUB E-Loading Mobile prepaid load and e-wallet top-up service offered at PERA HUB retail branches.
• PERA HUB Airline Ticketing Domestic and international airline ticket booking service offered at PERA HUB branches.
• PERA HUB Microinsurance Distribution of microinsurance products at PERA HUB branches, providing affordable insurance coverage to underserved Filipino consumers.
• PERA HUB Money Changing Over-the-counter foreign currency exchange service for retail customers at PERA HUB branches.
• PETNET Forex Solutions Corporate and MSME-focused foreign exchange trading service offering competitive rates, dedicated account management, and a digital trading portal.
• PETNET Forex Global Business Forex service dedicated to overseas Filipino worker (OFW) recruitment agencies and global remittance partners.
• PETNET Digital Remittance Platform Proprietary digital platform with aggregated API that allows international remittance operators, fintechs, and digital wallets to connect to multiple payout channels across the Philippines through a single integration.
• GlobalPay International education payments service enabling students and families to pay tuition and school fees to universities abroad.

Quantifiable outcome

• Over 3,000 locations nationwide serving millions of Filipinos
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

Feature2 records

Partnerships

21 partnerships are on record, tiered core and strategic.

• RemitlycoreChannel Partner/ Reseller/ Distributor · 1 January 2020International remittance brand added to PETNET's remittance partner network in 2020, expanding digital remittance options for customers.
• RiacoreChannel Partner/ Reseller/ Distributor · 1 January 2020International remittance brand added to PETNET's remittance partner network in 2020, providing additional options for money transfers.
• TransfastcoreChannel Partner/ Reseller/ Distributor · 1 January 2020International remittance brand added to PETNET's remittance partner network in 2020, expanding cross-border payment capabilities.
• MetrobankcoreChannel Partner/ Reseller/ Distributor · 1 January 2020Remittance partnership with Metrobank added in 2020 for expanded banking integration and fund transfer options.
• Western UnioncoreChannel Partner/ Reseller/ DistributorPETNET has been a Western Union agent since 1998, growing to become one of the largest Western Union agent location networks in the Philippines with over 3,000 locations nationwide.
• GCashcoreChannel Partner/ Reseller/ DistributorDigital remittance partnership enabling GCash users to access international remittance services through PERA HUB Digital Remittance Platform.
• PalawanPaycoreChannel Partner/ Reseller/ DistributorDigital remittance partner integrated into PERA HUB Digital Remittance Platform for expanded digital accessibility.
• UnionBankcoreChannel Partner/ Reseller/ DistributorBanking partner integrated into Digital Remittance Platform for seamless fund transfers and account linking.
• RCBC DiskarTechcoreChannel Partner/ Reseller/ DistributorDigital banking partner integrated into PERA HUB Digital Remittance Platform for expanded financial services access.
• Malayan InsurancecoreChannel Partner/ Reseller/ DistributorInsurance partner for microinsurance products including Accident Protect and other coverage offerings available at PERA HUB branches.
• AVOcoreChannel Partner/ Reseller/ DistributorInsurance partner broker providing microinsurance products through PERA HUB branch network.
• Prudential GuaranteecoreChannel Partner/ Reseller/ DistributorInsurance partner for microinsurance distribution through PERA HUB branches.
• COCOGEN InsurancecoreChannel Partner/ Reseller/ DistributorInsurance partner providing microinsurance products through PERA HUB counter services.
• RuralNetcoreChannel Partner/ Reseller/ DistributorInsurance partner broker for microinsurance distribution network.
• CashKo Insurance BrokeragecoreChannel Partner/ Reseller/ DistributorInsurance brokerage partner for microinsurance product distribution.
• SkyrocoreChannel Partner/ Reseller/ DistributorLoan referral partner for AVP Loan Referrals service, offering fast-cash loans with 5 easy steps and 30-minute application process with up to 80% approval probability.
• AirAsiacoreChannel Partner/ Reseller/ DistributorAirline ticketing partner allowing customers to purchase AirAsia flights at PERA HUB branches.
• Cebu PacificcoreChannel Partner/ Reseller/ DistributorAirline ticketing partner for Cebu Pacific flight purchases at PERA HUB locations.
• BayadcoreChannel Partner/ Reseller/ DistributorBills payment partner integrated into PERA HUB for utility and service bill payments.
• ConveracoreChannel Partner/ Reseller/ DistributorPartnership for GlobalPay University Payment service, enabling easy international tuition payments for Filipino students abroad.
• PaysostrategicStrategic or Co-development PartnerStrategic partnership between PETNET Forex Solutions and Payso for industry collaboration and expanded services.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• GCash: The Philippines' leading mobile wallet, already integrated into PETNET's DRP but increasingly competing with PERA HUB on cash-in/cash-out, bill payment, and remittance. Comparable as a same-market financial services touchpoint, though delivered through a digital rather than branch-based model.
• Maya (PayMaya): The Philippines' second major mobile wallet and digital banking platform, increasingly competing with PERA HUB on cash-in/cash-out, bill payment, and embedded financial services — analogous to GCash but from a different banking parent.

Direct peers

• Remitly: Digital-first cross-border remittance platform and one of PETNET's payout partners since 2020. Competes with PETNET on the OFW send-side from the US/Middle East but uses PERA HUB branches as the cash-payout network.
• iRemit: Philippine-headquartered OFW-focused remittance platform with online and agent-channel capabilities, competing directly with PETNET for the overseas Filipino remittance corridor.
• Palawan Express Pera Padala: Palawan Pawnshop's remittance arm and one of the largest PERA HUB competitors in Philippine retail money transfer, with extensive branch coverage and overlapping services in pawn, remittance, bills payment, and e-load.
• M Lhuillier: Major Philippine pawnshop and remittance chain with thousands of branches offering money transfer (Western Union, M Lhuillier Padala), bills payment, microinsurance, and e-load — directly comparable to PERA HUB's retail service mix.
• Cebuana Lhuillier: The Philippines' largest pawnshop and remittance network with thousands of branches offering pawn loans, remittances (Western Union, Palawan, etc.), bills payment, microinsurance, and e-load — the closest head-to-head competitor to PERA HUB in retail financial services.
• TrueMoney Philippines: A direct Philippines-focused remittance and digital financial services competitor with strong agent-network presence, offering similar retail services (remittance, bills payment, e-load) targeting the same OFW and unbanked customer base.

Broad incumbents

• MoneyGram: Global cross-border money transfer incumbent comparable to Western Union, operating an agent network that overlaps with PERA HUB at the retail counter and competes for the same OFW remittance payouts.
• Western Union: Foundational partner of PETNET since 1998 and the global leader in cross-border money transfer. Listed as a partner here because Western Union also competes with PETNET when sending direct-to-wallet, but the relationship is more symbiotic than directly competitive at the Philippines retail counter.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xfacebook.com/PERAHUBPH
• Facebookfacebook.com/petnetforexsolutions
• LinkedInlinkedin.com/company/petnet-inc
• Instagraminstagram.com/perahub

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PETNET