Thursday, March 1, 2012

Globe E-commerce

I read in the news that Globe Telecom has come up with more ways by which consumers may utilize their smartphones for e-commerce. This move was said to be aimed at those who do not have credit cards.

The first of these moves pertain to a mobile application for Blackberry, Apple iPhones and Android phones that will allow consumers to use Globe’s mobile commerce service GCash for transactions like sending money, buying airtime load and paying bills.

A Globe Telecom official said that using this application, consumers can now send money to Facebook accounts, a first in the world and that this application, which is accessible in any device, would make it easier for both banked and unbanked consumers to send money “anywhere, anyhow.”

Globe is also partnering up with American Express for the development of an online payment solution that will allow Globe GCash mobile wallet customers to shop in online stores that accept Amex.

Globe and Amex are also working on a system that will allow shipment of goods purchased online from the United States and United Kingdom to anywhere in the Philippines. “With less than 5 percent credit card penetration in the Philippines, our new solution will provide consumers with a new and compelling payment option—and all they will need is a GCash mobile wallet to start shopping on online sites outside the Philippines,” said Paolo Baltao, president of G-Xchange Inc., which operates the GCash mobile commerce service.

In line with Bangko Sentral ng Pilipinas regulations on electronic cash, the GCash wallet can hold up to P40,000 at any time. Transaction value is capped at P40,000 per day and at P100,000 per month.

I think this is a great move for Globe, particularly the partnership with Amex, since it provides an alternative for online shoppers wishing to purchase from US and UK online stores, since some of them unfortunately, still do not ship to the Philippines. It will be a real plus for online shoppers once these initiatives will be implemented.

News source:

Agnes M. Santiago, Entry No. 11

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