THE money-remittance business in the Philippines is doing very well and some, like the financial services provider PJ Lhuillier Inc., have posted growth well in excess of market.

While the total remittance pie was seen to grow by only around 7 percent this year, PJ Lhuillier anticipated its remittance business to grow by at least 25 percent, or more than three times faster than  market.

“Yes, we’re doing just a little bit faster than  market,” PJ Lhuillier President and Chief Executive Jean Henri Lhuillier said on Tuesday at the side lines of ceremonies honoring some of its corporate partners in the multibillion peso remittance market.

PJ Lhuillier’s remittance services is facilitated by the Cebuana Lhuillier Service Corp. brand which has 50 units across the country that operate on a 24/7 basis to handle money remitted by clients in the Middle East and the United States, its two biggest sources of remittances.

It has more units that operate on less flexible schedules, mostly in cities and top municipalities around the country.

According to Lhuillier, PJ Lhuillier’s remittance business has been growing between 20 percent and 30 percent a year the past five years and is likely to grow by 25 percent this year at the very least.

The remittance game is a highly competitive one that requires players to innovate every so often while investing in technology infrastructure to achieve a level of efficiency that allows players to post hefty profits.

Lhuillier also said its Middle East remittance operations facilitate remittances that have grown an average of 20 percent every year, or just slightly lower than that registered by its North American operations where annual growth was estimated at 23 percent, or 25 percent a year.

Lhuillier also launched on Tuesday an improved version of its 24k card, which combines the features and services patronized by loyal clients in just one convenient plastic card.

The card may be used to pay bills, tuition, insurance premium, make online purchases, top up phone credits or load and could even be converted into cash coupons or gift certificates, provided one has already earned points.

PJ Lhuillier has devised a point/reward system where a given amount of remittance using the 24k card earns cardholders an equivalent cash-convertible point every time.

The same card could also be used to renew a loan, make inquiries into loan rates and status, locate a Cebuana Lhuillier branch, among other features.

PJ Lhuillier plans to team up with more corporate entities to expand a growing list of partners that already include some of the best-known insurers, like Fortune Life, and the pharmacist Generics Pharmacy, among other firms.