Globe Telecom President and CEO Ernest Cu will join distinguished mobile money transfer business leaders from the Asia Pacific region at the annual MMT APAC conference and expo, to be held at the Hyatt Hotel in Manila from January 17 to 20, 2011. Cu is set to deliver a keynote address on “Globe GCASH executing on telco-financial service convergence” on Tuesday, January 18, 2010. Mr. Cu’s speech will talk about prospects for mobile money as cumulative market opportunities show more applications to achieve scale in both developed and fragmented financial markets.
Globe runs its mobile commerce business under wholly-owned subsidiary G-Xchange, Inc (GXI), and through its flagship mobile commerce brand GCASH. GCASH was recently awarded Best in International Mobile Transfer in the world’s first Mobile Money Transfer (MMT) Awards. GCASH REMIT, the domestic cash pick-up service of Globe, is also being utilized by Land Bank of the Philippines and the Department of Social Welfare and Development (DSWD) for the pilot implementation of the government’s Conditional Cash Transfer Program (CCT) in far-flung areas.
Cu declares, “Inherent telco strengths in distribution and mass marketing coupled with enhanced capabilities in banking and micro-finance build strong fundamentals that will drive the growth of the mobile money industry. Globe leads the charge thru GXI and our partnerships with BPI and Ayala. We believe that our work in this area contributes significantly to the global effort to bridge the banked with the unbanked via mobile money and technology.”
Half the MMT customer base in Asia Pacific
In 2013, there will be nearly half a billion customers of mobile money using services such as domestic money transfers, m-banking and international remittances. In 2015, there will be 894 million mobile money users globally and more than half of the customer base will come from the Asia Pacific region.
“The evolution of mobile payment systems has the potential to allow mobile network operators, banks and micro finance institutions to access a far wider market, and not just the under banked and under served. Markets where MMT has been slow to take off are looking at using new technologies including contactless, NFC (Near Field Communication) and micro SD cards to offer utility and bill collection,” noted MMT APAC director Sonum Puri.