SalPay – A Solid Philippine BPO Remittance Platform

December 2017
By Sam
Posted: Updated:


More than $27 billion USD is remitted from the Phillipenes every year. Millions of foreign and domestic workers send money to and from their families, businesses and other enterprises. As is well documented, international remittances are expensive, and slow. Blockchain tech will greatly reduce these fees in the coming years and allow for some interesting lending options.

SalPay is tackling this issue and is the evolution of the Salarium Group, which has been payroll and financial solutions since May 2013. They “provide companies with free time SaaS, attendance, and payroll software as an acquisition and funding source for SALPay, its  financial product.” SalPay is a fully developed platform which already processes around 120mil a year for 500 businesses and more than 10,000 employees.

More than 50% of SalPay’s clients are part of the Business Process Outsourcing (BPO) industry, meaning that most or all of the salaries and operation costs have to be remitted into the Philippines on a fortnightly basis. These transactions require the sender to have bank accounts in both countries, pay significant fees and also endure 3-5 day wait times for clearing and settlement.
The SalPay ICO is for the deployment of their token, which will allow for frictionless, instant international payments at reduced costs. From a business standpoint they have developed a tailored solution to allow them increase their margins, while reducing costs.



I really love targeted uses of blockchain. It’s great to see a business that has a real use case which can be addressed immediately and not just random cat images being bought and sold for profit. The business model they have designed around it is well thought out as well. They will charge $.50 per transaction, as well as other fees for other secondary services. This makes the token available for free use, but company services must be paid for.

The biggest hangup, which I spoke with CEO Judah Hirsch about is that their platform is limited by the growth of the company. Based on previous revenues, an expected $120 million USD in the best case is supposed to be transacted in their token. Based on a monthly volume of 12 million, SalPay would rank around 250th for total market cap size, which is around 90-100 mill. If they stay under 5 mil raised, it could lead to a large increase in the token price. However, this is in the best case after the platform is developed.

I’d personally like to see a platform which other businesses could build on. This would allow for growth outside of the Phillipines and more exponential growth of the token. Judah said that they plan to move to other countries, but they want to develop the company in PH first, as it has such a large market for remittances.

SalPay needs to work on growing their community. Currently they only have 160 people in their telegram. They do have a few weeks left to grow the community though.


Token Info

Salpay is trying to raise 20 million, of which they have already raised 3.6 million in pre-sale. Their soft cap is around 7 million, which based on their company record, they should at least hit.

Token Price: 1 Sal = 0.40

Supply: 100 mil

Symbol: SAL

Pre-sale Date: November 22 – 26, 2017

ICO Date: November 27 – December 31, 2017



I think it’s an interesting proposition. It’s not a billion dollar token, but I think that it will have price stability in terms of USD once the platform is released. Judah and Salarium are an already profitable company. The only other digital asset company in PH is still quite small and that presents them with the opportunity to grow. I would like to see them set out plans for future growth, as currently their roadmap only goes out to June 2018.

I spoke with Judah at length before writing this article. He’s got a solid business plan and a proven model on which to implement it. I don’t doubt that they will integrate and have a working system. Plus, they have a guaranteed volume amount due to their business activities. It will be a solid project and PH is a bit green right now for these types of services. I’m impressed for what they are doing inside their company to implement blockchain tech and integrate it into their business.

Go check it out, read the whitepaper and see a template for how many more businesses are going to release a token in the future.




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