Close  
  • share this

Globe ties up with fintech startup

/ 05:08 AM September 06, 2017

Globe Telecom announced a partnership with EMQ, a remittance-focused financial technology startup based in Hong Kong, in a bid to make further inroads in the country’s massive overseas Filipino worker market.

Globe, which sealed the partnership through its mobile commerce unit G-Xchange Inc. (GCash), said the tie-up would enable EMQ users to send funds to GCash account holders. Those users, in turn, can use the money to pay bills and make online purchases across 12,000 GCash partner outlets in the country.

ADVERTISEMENT

“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 CEO of EMQ, said in the statement.

“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 said.

FEATURED STORIES

EMQ is present in Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines and it plans to expand across other key business markets first in Asia and then globally, covering North America, Europe and the Middle East.

Globe has been keen on growing its digital money business through partnerships.

Recently, Alipay Singapore Holding Pte. acquired 45 percent of Globe Fintech Innovations Inc. That transaction was recently approved by the Philippine Competition Commission.

After the deal, Alipay owned 45 percent of Globe Fintech, Globe held the other 45 percent and Globe’s owner, Ayala Corp., had 10 percent.

Alipay is a unit of Ant Financial Group, owned by Chinese billionaire and Alibaba Group founder Jack Ma. —MIGUEL R. CAMUS

ADVERTISEMENT
Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Globe telecom
For feedback, complaints, or inquiries, contact us.
newsinfo

House approves charter change

December 12, 2018 05:35 AM

newsinfo

Hello, martial law extension; goodbye, 2019 budget

December 12, 2018 05:33 AM

newsinfo

Informal settlers blames for Manila Bay pollution

December 12, 2018 05:31 AM

newsinfo

News Briefs: Dec. 12, 2018

December 12, 2018 05:30 AM

newsinfo

FDA goes after makers of deadly ‘lambanog’

December 12, 2018 05:19 AM




© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.