Globe partners with Ericsson for mobile money services

Globe partners with Ericsson for mobile money services
By Mary Ann LL. Reyes (The Philippine Star)
Updated March 17, 2011 12:00 AM

MANILA, Philippines - Globe Telecom has reached a landmark partnership with Ericsson as it integrates its mobile commerce service GCash into the recently-launched Ericsson Money Services.

This makes Globe the Swedish techno-logy giant’s first partner worldwide for this innovative end-to-end mobile money solution.

The partnership is expected to further improve and expand access to GCash mobile money transfer services to more countries abroad. The Ericsson Money Interconnect Service is a platform that allows mobile money operators (MMO) and financial institutions around the world to send money instantly to a GCash wallet.

“The Ericsson Money Services and its Money Interconnect Service makes it a lot faster and easier for telcos and financial institutions to connect to GCash. It also opens up GCash to new corridors across the world and assures migrant workers of a better remittance service backed by one of the Philippines’ top corporations, Globe Telecom,” G-Xchange Inc. president Paolo Baltao said. GXI is Globe’s m-commerce subsidiary.

Meanwhile, Ericsson money services head Semir Mahjoub pointed out that they are proud to have this milestone partnership with Globe “as they are our first partner not only in the Philippines but in the whole world as well.”

“We’re excited to be working with GCash on this service as they have been a staunch advocate for the use of mobile money, especially to spur economic growth in areas with little to no access to banks and other financial institutions. The partnership reinforces both companies’ visions of playing a significant role in building a global mobile money ecosystem,” Mahjoub added.

With the GCash-Ericsson Money Services tie-up, the money sent from abroad is received on the GCash wallet and can be easily cashed out in over 9,000 accredited payout locations which include major partners like Villarica, Tambunting, Palawan and Prime Asia pawnshops, SM Department Stores, selected rural banks, and in over 9,000 ATMs nationwide.

GXI is a pillar in m-commerce and a fully-owned subsidiary of Globe. It pioneered the mobile commerce service GCash in October 2004. GCash is an internationally-acclaimed micro-payment service which transforms a mobile phone into a virtual wallet for secure, fast, and convenient money transfers at the speed and cost of a text message.

Since the GCash launch, GXI has established a wide network of local and international partners that include government agencies, utility companies, cooperatives, insurance companies, remittance companies, universities, and commercial establishments which have agreed to offer GCash services. GXI made a major breakthrough in being the first non-bank institution to launch a customizable ATM Card linked to a mobile wallet. The GCash card provides subscribers 24/7 access to over 9,000 ATMS in the Philippines.

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