paybox and Globe Telecom Team up to Provide Mobile Money Transfer solutions into the Philippines
More than 8 Mio Filipinos overseas supporting their families back in the Philippines will benefit from a new Mobile Money Transfer partnership. paybox and Globe Telecom team up to extend the reach of their remittance network solutions. The partnership extends paybox' mobile Commerce Portfolio and will further strengthen Globe Telecom's leading remittance service GCASH.
Frankfurt, Germany (PRWEB) May 5, 2008 -- paybox, the trendsetting company for mobile payment enterprise solutions headquartered in Germany, and Globe Telecom, a leading mobile operator in the Philippines, through its wholly-owned subsidiary, G-Xchange, Inc. (GXI), team strategically to offer Overseas Filipinos worldwide a cheaper and more convenient way to send money home. The total transaction value of remittances into the Philippines in 2007 is estimated to be above US$ 14 billion and represents about 14% of the Philippines GDP.
With its portfolio of products, paybox addresses mobile Commerce, mobile Payment and mobile Money related opportunities with mobile operators and financial service providers in both, developed as well as emerging markets. In developed markets, these opportunities are a driver for change for secure and convenient mobile services and mobile money transfer solutions are becoming a central element of these opportunities - providing convenience and security to foreign workers, speeding up the transfer and reducing the cost.
In emerging markets such as the Philippines, remittances act as a catalyst for mobile Money solutions providing an effective way for customer sign ups and loading money into accounts. With GCASH, Filipinos can send and receive money through their mobile phones, pay their bills, top up airtime, and pay for purchases at any of the 6,000 GCASH partner outlets in the Philippines - all via text messaging.
The strategic partnership interfaces the paybox Mobiliser Platform and Globe Telecom's remittance service GCASH to provide mobile Money Transfer Channels for mobile operators and financial service providers. "Jointly with Lari Exchange, the leading financial exchange in the U.A.E., paybox and Globe Telecom have already opened the first channel successfully" states Eckhard Ortwein, CEO of paybox. "Now, we are enabling further mobile Money Transfer channels between the Philippines and sender markets in Asia and the Middle East."
Rizza Maniego-Eala, GXI President, adds "Our partnership with paybox enables leading mobile operators and financial institutions worldwide leveraging on paybox's state-of-the-art technology to immediately access the more than 20 Mio Globe Telecom subscribers as recipients for mobile money transfers."
paybox will be available at the CeBIT Australia from 20th to 22nd May and at the CommunicAsia in Singapore from 17th to 20th June.
About paybox:
paybox solutions AG ("paybox") is the trendsetting company for mobile payment enterprise solutions. Founded in 1999, paybox was the first to launch mass-marketable mobile payment solutions in five European markets. paybox set up operator-led, national mobile Payment standards in Germany and Austria. In 2007, paybox was awarded the Int'l Stevie Award for Best Product in Telecommunications. Recognised for having the broadest mobile Commerce offering worldwide, paybox mobile payment enterprise solutions are deployed across Europe, North and South America, North Africa, the Middle East and Asia. For more information on paybox, please visit www.paybox.net
About Globe Telecom:
Globe Telecom is a leading full-service telecommunications company in the Philippines offering digital wireless communication, wireline voice, data transmission, domestic and international long distance communication services, and mobile commerce services. The company has been listed in the Philippine Stock Exchange (GLO:PS) since 1975. As of end-December 2007, Globe Telecom had a total of more than 20 million wireless, 421 thousand wireline, and 120 thousand broadband subscribers and over 700,000 active m-commerce users. For more information, visit www.globe.com.ph and www.g-cash.com.ph.
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