"The partnership will allow the two companies to jointly develop mobile and online payment technologies and services in emerging markets," a PLDT statement said.
"The strategic partnership will allow us to leverage our combined strengths in developing online and mobile payment solutions in emerging markets," PLDT President
PLDT cited Rocket Internet's experience and intellectual property in mobile payments and remittance platforms, often used by the many Filipinos working abroad to send money back home.
It also cited the
The investment will entitle PLDT to one seat on Rocket's nine-member supervisory board the statement said, adding that the investment would be sourced from available cash and new debt.
Rocket markets itself as the world's largest Internet platform outside of
Source: AFP via
All rights reserved.
Most Popular Stories
- Businesses, Investors Pressing for Green Policy
- Who's Next? More Nude Celeb Pics Hacked, Leaked
- Tips for Hiding, Securing Data on Smartphones
- Cristela Gets a Big Thumbs Up
- Iran Says Syria Strikes Illegal
- Lower Used-Car Prices Roil the Auto Industry
- E-scrap Recyclers Find Profits in Upgrades
- ISIS Calls for Jihad Against 'Filthy French'
- Would You Trade Privacy for Job Security?
- 'The Voice' Sounds Different This Season