Globe Telecom, a telecommunications company in the Philippines, is reportedly planning on expanding its GCash mobile services to include point-of-sale (POS). In October, Globe Telecom launched a pilot project allowing customers to tap and pay using iPhones and some BlackBerry mobile phones at a limited number of participating merchants. The payment process is facilitated by the use of microSD (secure digital) cards and near-field communication (NFC) technology allowing users to complete contactless transactions. According to the president of G-Xchange (the subsidiary of Globe Telecom that manages GCash), Paolo Baltao, the company intends on, “commercializing contactless payments” by early 2013. Other GCash services include fund transfers, bill payments and remittance services via mobile networks. However, it was also reported that barriers currently exist in extending this program such as the low number of NFC handsets available to merchants.
Globe Telecom is a telecommunications company in the Philippines that reports having 30 million mobile subscribers, 1.4 million broadband customers and 671,000 landline subscribers. In 2011, Globe’s full year service revenue increased 8 percent from the previous year to a record high of PHP 67.8 billion (USD 1.65 billion).
GCash, which was launched in 1998, is an international micro payment service which allows a mobile phone to function as a virtual wallet. GCash partners include government agencies, utility companies, cooperatives, insurance companies, remittance companies, universities and commercial establishments that have agreed to accept GCash as a means of payment for products and services. The GCash service is currently administered exclusively via G-Xchange, a subsidiary of Globe Telecom. The current number of GCash users and volume of transactions is unavailable.
By Lena Phillips, Research Associate
About Globe Telecom
Globe Telecom is a telecommunications company in the Philippines providing mobile, fixed-line and broadband networks to individuals and businesses of all sizes. As of 2011, it reported having 30 million mobile subscribers, 1.4 million broadband customers and 671,000 landline subscribers. In 2011, Globe’s full year service revenue increased 8 percent from the previous year to a record high of PHP 67.8 billion (USD 1.65 billion). G-Xchange, a subsidiary of Globe Telecom, currently administers GCash, an international mobile micro payment service.
About GCash
GCash, which was launched in 1998, is an international micro payment service which allows a mobile phone to function as a virtual wallet. Money transfers at the speed and cost of a text message. GCash partners include government agencies, utility companies, cooperatives, insurance companies, remittance companies, universities and commercial establishments that have agreed to accept GCash as a means of payment for products and services. GCash users may also access GCash via the internet. The GCash service is currently administered exclusively via G-Xchange, a subsidiary of Globe Telecom. Globe Telecom is a telecommunications company in the Philippines providing mobile, fixed-line and broadband networks to individuals and businesses of all sizes. The current number of GCash users and volume of transactions is unavailable.
Sources and Additional Resources:
Nfctimes.com: “Globe Telecom Plans to Expand GCash Mobile-Money Service to Physical Point of Sale”, by Dan Balaban, http://nfctimes.com/news/globe-telecom-plans-expand-gcash-mobile-money-service-physical-point-sale
MicroCapital.org article, 2 April 2012: “Mobile handset Initiated Transactions (mHITs) of Australia Expands Remittance Service to the Philippines”, https://www.microcapital.org/microcapital-brief-mobile-handset-initiated-transactions-mhits-of-australia-expands-remittance-service-to-the-philippines/
MicroCapital.org article, 25 October 2012: “MICROCAPITAL BRIEF: Mobile Microfinance Bank BPI Globe BanKO to Launch Microinsurance in the Philippines in Partnership with BPI-Philam Life Assurance Corporation, BPI/Mitsui Sumimoto Insurance Corporation”, https://www.microcapital.org/microcapital-brief-mobile-microfinance-bank-bpi-globe-banko-to-launch-microinsurance-in-the-philippines-in-partnership-with-bpi-philam-life-assurance-corporation-bpimitsui-sumimoto-insurance-corpor/
MicroCapital.org article, 4 November 2010: “MICROCAPITAL BRIEF: Microenterprise Access to Banking Services and Rural Bankers Association of the Philippines (MABS-RBAP), G-Xchange Inc. (GXI) Launch FaceCard, an Automated Teller Machine (ATM) Card for Microfinance Banking Clients”, https://www.microcapital.org/microcapital-brief-microenterprise-access-to-banking-services-and-rural-bankers-association-of-the-philippines-mabs-rbap-g-xchange-inc-gxi-launch-facecard-an-automated-teller-machine-atm-car/
MicroCapital Universe Profile: GCash, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=GCash
MicroCapital Universe Profile: Globe Telecom, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Globe+Telecom
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