MANILA— Globe Telecom has partnered with Hong Kong based financial technology firm to further strengthen its presence in the remittance market for overseas Filipinos.
In a statement, Globe said that its mobile commerce subsidiary G-Xchange Inc. (GCash) has collaborated with EMQ as the latter seeks to expand its operations in the Philippines.
Through this partnership, EMQ users can now send funds to GCash account holders who in turn can use their mobile money to pay bills and make online purchases, buy load or cash out at over 12,000 GCash partner outlets across the Philippines.
“Remittances provide a lifeline for millions of households and drive financial inclusion in the developing countries such as the Philippines, currently the third largest recipient of remittances according to the World Bank,” Max Liu, co-founder and Chief Executive Officer (CEO) of EMQ said.
“Our expansion with GCash complements our existing capabilities in the Philippines, while offering the best possible choices and flexibility for the overseas workers to send money home effortlessly within minutes,” he added.
For his part, GCash President and CEO Abet Tinio said its partnership with EMQ “would further boost mobile wallets usage and accelerate economic growth”.
“We want to ensure that Filipinos who rely on remittances from their loved ones overseas will receive their money fast and securely without any hassle,” he said.
EMQ operates a mobile app that provides overseas workers with a trusted and safe alternative way to transfer money internationally at a much lower cost than traditional remittances. It has partnered with established banks to provide digital solutions to their transactions.
The firm currently operates in Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines and is eyeing to expand across other markets in Asia, North America, Europe and the Middle East.