OBOOK Holdings Inc. announced the official debut of OwlPay Cash. The app has been submitted for review and is expected to become available on the Apple App Store and Google Play upon completion of standard platform approval processes. This mobile-first interface represents the deployment of the Company's institutional-grade payment infrastructure directly to retail users, bringing speed, pricing certainty, and operational efficiency to the estimated $230 billionU.S. outbound remittance economy.
The initial rollout prioritizes five high-volume corridors: Mexico, India, Colombia, Peru, and Argentina. Following this launch, the Company plans to progressively expand the service to a total of 26 regions globally, with the regulated settlement framework of Cross River Bank. By integrating direct digital payment rails, OwlPay Cash addresses the fragmentation of legacy remittance networks, offering a unified solution that optimizes settlement times and cost structures for cross-border transactions.
OwlPay Cash is engineered to capture volume in the world's most active payment channels. The combined annual remittance flows from the United States to the Company's five initial launch markets exceed $100 billion4. Capturing just 1% market share across these priority corridors would represent approximately $1 billion in annual transaction volume.
Remittance transactions are typically recurring in nature, driven by essential monthly or bi-weekly family support flows. Within this high-frequency environment, scalable digital infrastructure can support predictable, repeat transaction volume once customer acquisition stabilizes. To achieve this, the App addresses specific liquidity needs in each market: India: Serving a tech-savvy community of 5.2 million Indian residents in the U.S.5, OwlPay Cash leverages real-time domestic payment rails and central bank-backed settlement systems. This integration enables near-instant settlement for the India corridor, ensuring critical funds are available to beneficiaries within seconds.
Mexico: In 2024, remittances from the U.S. to Mexico reached an estimated $62.5 billion, accounting for over 3.5% of the country's GDP6. OwlPay Cash facilitates rapid same-day delivery, typically clearing funds within three hours. This efficiency provides a reliable digital alternative to physical agents for the 11 million Mexican residents in the U.S., Latin America (Colombia, Peru, Argentina): The U.S. is a critical lifeline for this region, accounting for 53% of remittances to Colombia, 42% to Peru, and 27% to Argentina8.
OwlPay Cash focuses on settlement predictability in these areas. By facilitating Intraday or T+1 delivery, the App allows recipients to access and utilize funds before exchange rates fluctuate, preserving the purchasing power of every dollar sent. OwlPay Cash challenges the legacy banking model by eliminating opaque intermediary fees.
By leveraging direct digital rails, the App can significantly reduce transaction costs compared to traditional SWIFT wire transfers, and is paired with institutional-grade clarity features: "Total Cost" Calculator: The App features a dynamic Transfer Calculator that displays the FX rate and the exact final sum the recipient will receive before execution. This "what you see is what you get" model empowers users to make informed financial decisions. Streamlined Recipient Management: Designed for recurring family support, the App includes a secure recipient management system, allowing for one-tap execution of repeat transfers to reduce friction and manual errors.
OwlPay Cash leverages the reach of Visa Direct, connecting to over 11 billion endpoints globally, with the regulated settlement platform of Cross River Bank.
