MANILA, Philippines -- GSMA, the body representing the world’s mobile communications industry, recently launched the Mobile Money Exchange initiative.

Visa and Globe Telecom are the first two founding partners of the Mobile Money Exchange, which aims to engage with new stakeholders and sectors that are entering the mobile ecosystem.

Through this, the GSMA is helping financial services firms by providing a common voice and formal business forum for business collaboration.

The exchange will feature an online knowledge portal with social business networking and community functionality designed to advise and serve the interests of the mobile money industry.

“As a founding partner, Visa looks forward to helping drive thought leadership and industry participation in the Mobile Money Exchange program,” said Tim Attinger, global head of product development for Visa Inc.

“We congratulate GSMA for the foresight to build on its successful Mobile Money Transfer initiative to this new Mobile Money Exchange program,” said Globe Telecom president and CEO Ernest L. Cu.

“At Globe, we have been constantly involved in global initiatives to hasten the advancement of mobile money and moves to position it into a mainstream business line not only for telcos but for the financial services industry as well.”