Globe GCASH, the fastest growing mobile wallet service in Asia, announced that it is offering more opportunities for customers in the US to remit funds to the Philippines . The new service will provide a secure, convenient and affordable way for US PayPal users to transfer funds to GCASH registered Globe or TM mobile phone in the Philippines through the GCASH Online website (www.globe.com.ph/gcashonline).
According to the World Bank’s Migration and Development Report, worldwide remittance levels reached US$316 billion in 2009 and are expected to increase at 6.2% in 2010 and 7.1% in 2011. An estimated 10 million Filipino migrant and contract workers remit US$17 billion annually.
“By using PayPal, we are closer to our vision of lowering the cost of domestic and international remittances through Globe’s mobile network which has increasing presence on the internet. The PayPal platform expands our capability and reach to the US , complemented by the significant growth of our GCASH outlets in the Philippines , bringing our remittance services closer to our customers,” said Rizza Maniego-Eala, President of G-Xchange, Inc.
“PayPal’s value proposition is to offer consumers a safer, easier, and more convenient way to pay online,” said Farhad Irani, Vice President of PayPal Asia Pacific. “We’re thrilled that GCASH has integrated PayPal into their offering to allow people in the US to send money with ease and convenience to friends and families in the Philippines .”