ONB the largest rural bank in Mindanao partners with GCASH
G-Xchange Inc. (GXI), Globe`s wholly-owned mobile commerce subsidiary, recently signed a memorandum of agreement with ONB, the largest rural bank in Mindanao, facilitated by the Microenterprise Access to Banking Services (MABS) Program of the Rural Bankers Association of the Philippines (RBAP) with support from USAID/Philippines.
With this partnership, GCASH services will be integrated in ONB’s recently upgraded banking system. Initially, ONB will accommodate cash-in and cash-out services and GCASH Remit. With these new services available to its banking clients, ONB can now further expand their product portfolio that will assist in widening customer reach.
As an accredited GCASH partner, ONB is authorized to process GCASH transactions and accept remittances from abroad via GCASH REMIT.
GCASH is a service that conveniently and safely turns a cellphone into an electronic wallet. With GCASH, subscribers can easily and conveniently send money, receive GCASH and exchange it for cash, make payments, and transfer funds from one cellphone to another.
ONB clients will also enjoy receiving remittances from abroad through GCASH Remit, the instant cash pick up service of GCASH. A sender may choose to send remittance from abroad through various GCASH REMIT international partners.
The beneficiary can pick-up the remittance at any of the 2,000 accredited GCASH REMIT local outlets which will now include ONB’s bank branches.
To date, ONB has 75 branches in Mindanao with 5 more branches in the pipeline, making it the largest banking network in Minda-
nao and the widest rural banking network in the country. ONB reached a record of over PhP 8.4B in total resources and PhP 6B in loan portfolio as of end March 2009.
GXI will continue to support rural banks across the country to help provide banking services to small income households. It is part of the company’s vision to use its products and services to improve the lives of Filipinos nationwide. Through partnerships with rural banks, like ONB, GXI is one step closer to fulfilling that vision.
cbalingit :: May.21.2009 :: Globe press releases, agreement signings ::
