Hong Kong-based financial technology start-up EMQ has partnered with G-Xchange, the mobile commerce subsidiary of Globe Telecom, to facilitate cross-border mobile remittances into the Philippines.
The deal will allow EMQ users to transfer funds to users of GCash, the mobile wallet operated by G-Xchange.
Recipients can use the funds to pay bills, make online purchases, buy load or cash out at over 7,000 GCash payment outlets across the Philippines.
EMQ co-founder and CEO Max Liu said: “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.
“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.”
EMQ currently operates in Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines and plans to expand across North America, Europe and the Middle East in the near future.