FINANCIAL technology company EMQ teamed up with Globe Telecom’s subsidiary G-Xchange Inc. (GCash) to boost its presence and expand its reach in the country.
“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,” Max Liu, co-founder and chief executive officer of EMQ, said in a statement on Tuesday.
Liu said remittances “provide a lifeline” for many households and influence the wave of financial inclusions in developing countries, especially for the Philippines, which landed as the third largest recipient of remittances based on data from the World Bank.
The partnership would allow EMQ users to send funds to GCash account holders, who can use their mobile money to pay bills and make online purchases.
“Our strategic partnership with EMQ would further boost mobile wallets usage and accelerate local economic growth,” said GCash President and CEO Abet Tinio.
EMQ currently has a footprint in Hong Kong, Taiwan, Indonesia, Vietnam, and the Philippines, with plans underway to expand across other key business markets in Asia and then globally.
GCash international partners have over one million outlets worldwide with over 12,000 GCash partner outlets in the country.