ENP Newswire -
Release date- 13082014 - Even at its infancy stage, mobile commerce is showing some great potential in
Since its inception in year 2000, mobile penetration has surpassed the 100 percent mark to stand at 112 percent by the end of 2012, which implies that majority of Filipinos own more than one phone. According to a CGAP-GSMA study, mobile penetration grew from 3% to 68% over the last 5 years due to the increasing accessibility and affordability of smartphones.
Emerging markets are becoming more open to mobile payments that the use of digital wallet is now seeing gradual acceptance among Pinoys, who are now taking the advantage of finding and paying for their goods using their mobile handsets and devices.
Aside from this, several factors have also contributed to the explosion of mobile penetration and the introduction of mobile financial services in the country. These include the widespread use of text messaging, high demand but low access to formal financial services, size of the overseas worker community, the growing remittance industry, and the acceptance of debit/credit card payment system in local businesses.
These opportunities led
'Since GCash's launch in 2004, we have seen how it revolutionized mobile commerce in
GXI aggressively grows user base by offering new products and services such as Globe Charge which can turn any mobile phone into a credit card facility; Globe PowerPay+, a funds payout service which is being offered to various companies. Through PowerPay+, employees of partner companies may withdraw their salaries from any of the 13, 000 ATMs and more than 6, 000 GCash outlets nationwide; and GCash American Express Virtual Pay which is a prepaid virtual card connected to a user's GCash mobile wallet that lets users shop online conveniently from both local and international sites that accept
The government is also playing an important role in the adoption of mobile money in the country. GCash recently expanded its services by partnering with local government units to accelerate their competitiveness by streamlining their business and licensing systems through greater use of technology.
GCash teamed up with the local governments of
Other GCash services include the purchase of airtime load without visiting an outlet, sending of money to other GCash subscribers and donation to partner institutions such as the
To date, GXI now has over to 2 million users worldwide who are now able to enjoy the platform for money transfer.
For more information about GCash, visit www.globe.com.ph/gcash.
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