G-Xchange, RNet to launch mobile money platform for rural banks in Philippines

Globe Telecom’s subsidiary G-Xchange (GXI) has collaborated with IT services firm Rural Net (RNet) to develop a mobile money platform aimed at the rural banks and cooperatives in the Philippines.

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Operator of mobile commerce product Gcash, GXI aims to provide a secure system with the launch of first 3-in-1 card CashKO in the Philippines among RNet partners and clientele that includes rural banks and cooperatives.

G-Xchange president Paolo Baltao said that the partnership with RNet is aimed at improving operational efficiencies of rural banks and cooperatives by providing them a secure and more convenient platform to serve their clients and give them access to banking and financial services even in the farther areas of the country.

“This is part of our roadmap to provide a more varied array of consumer solutions like mobile data services and application development,” Baltao added.

The new solution will offer rural conusmers an affordable mobile phone and internet banking with ATM functionality powered by Globe GCash.

With this service, the rural banks and cooperatives will be able to provide their client base with modern financial services technology at minimal entry cost and monthly costs.

“We aim to provide businesses with ways to reach untapped groups and companies in the rural areas through our new infrastructure program. RNet’s efforts place emphasis on rural banks and cooperatives as both serve as best avenues to reach rural communities,” Baltao explained.