Globe Telecom recently partnered with online retailer and marketplace Lazada to bring its GCASH mobile wallet to the e-commerce space in Southeast Asia.
Under the agreement signed by Globe Telecom President and CEO Ernest Cu and Lazada Founder and CEO Maximilian Bittner in Seoul, Korea, GCASH will be used as a mode of payment in Lazada’s eCommerce website through an open integrated mWallet platform.
“By increasing transactions through mWallet, we will expand the online ecosystem of Globe and provide our customers with a full digital lifestyle experience,” said Cu. GCASH is a product of Globe Telecom’s wholly-owned subsidiary G-Xchange, Inc. (GXI) and is among the pioneers of telco-led mWallet.
GXI’s partners today include government agencies, utility companies, cooperatives, insurance companies, remittance companies, universities, banks, and commercial establishments which accept GCASH as a means of payment for products and services via mobile phone or the Internet.
Through mWallet, Globe customers no longer need to own a credit card or even have a bank account to shop online. Instead, they can turn their mobile phone into a virtual wallet to shop at the speed of a text message.
Lazada has over 15,000 merchants in Southeast Asia, and 1.4 million active customers. In the Philippines, mobile traffic constitutes more than 50 percent of its daily traffic. According to Inanc Balci, CEO of Lazada Philippines, the Lazada Mobile App downloads have grown 18 percent month-on-month since its launch in early 2014.