PETNET Inc. was established on August 12, 1998. The primary purpose then was to grow the network of Western Union in the Philippines. PETNET’s 2,200-branch network, composed of company-owned and sub-agent locations, is geared towards the service of Western Union with complementary products such as money changing, bills payment, airline ticketing, cell phone loads, and micro-insurance. Today, PETNET has the largest Western Union agent network in the country. In mid-2015, Aboitiz Equity Ventures (AEV) entered as the new majority owner of PETNET leading to a full transformation and an aggressive business expansion program. Following this expansion, in April 2016, PETNET changed its brand name to PERA HUB to better describe its portfolio of services and continuously be relevant to its target market and industry.
Today, Petnet has now diversified its business outside of its Western Union partnership as part of its mission to provide fast and friendly cash and payment services under one roof. Aside from money remittance, Petnet also offers Loans Services, Forex, and Added Value Products. In September of 2017, Petnet ventured into Financial Technology by establishing a new subsidiary called Betterway which aims to provide financial solutions to the unbanked sector of the economy