Western Union and G-Xchange Inc. have enabled consumers to receive Western Union international or domestic money transfers into their registered GCash wallets 24/7—providing consumers with convenient access at their finger-tips.
Following an agreement between the two companies, Western Union’s global cross-border platform was integrated with G-Xchange, Inc’s world class e-commerce platform to enable GCash users to direct money transfers into their GCash wallets from almost anywhere around the world and from within the Philippines.
“We want to offer the best services to Filipinos abroad and their families in the Philippines,” said Anthony Thomas, chief executive officer of Mynt.
“We are confident that collaborating with Western Union will provide a reliable and convenient mobile wallet-based money transfer platform for our customers. Two leading companies in their respective sectors having the same vision of helping people and businesses move money can definitely help grow economies and realize a better world, he added.
G-Xchange Inc. is an operating company under Globe Fintech Innovations Inc. (Mynt). It offers GCash, an internationally acclaimed micropayment service that transforms the mobile phone into a virtual wallet for secure, fast and convenient payments and money transfers. Usage of GCash mobile wallets is high with unbanked consumers in the Philippines, as it can be used to buy prepaid load, pay bills, send money, shop online and purchase goods via QR—all without the need to bring any cash.
Meanwhile, Western Union Company (NYSE: WU) is a leader in global payment services.Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services,it has over 550,000 agent locations in 200 countries and territories and over 150,000 ATMs and kiosks.
“Western Union is delivering on our pledge to expand more digital and physical channels for money transfers to provide choice and more convenience for our customers,” said Bassem Awada, Western Union regional vice president for Malaysia, Indonesia, Singapore, the Philippines and Brunei Darussalam. “Our collaboration with G-Xchange is inspiring and, together, we are advancing financial inclusion, a key objective of the Government of the Philippines,” he said.
In line with the regulations of the Bangko Sentral ng Pilipinas, prior to the first use of the Western Union service, consumers are required to register on the GCash app and provide a valid ID for verification. After registration, consumers can conveniently receive Western Union money transfers into their GCash wallets by simply inputting the unique tracking number. Consumers within minutes can receive up to $500 per transaction (approximately P25,000) or $1,500 per day (approximately P75,000), up to a maximum GCash wallet capacity of P100,000 (approximately $2,000).