Globe trains RBs on mobile money

MANILA, Philippines - Seven of the country’s leading rural banks participated in a senior management consultation meeting to support the expansion of a mobile phone banking service under the Rural Bankers Association of the Philippines-Microentrepreneurs Access to Banking Services (RBAP-MABS) program held at the RBAP office in Manila on Aug. 25.

Building on the current achievements and outreach of the rural banks in providing mobile phone banking services via GCASH, the Mobile Phone Banking-Channel Management, was introduced to the rural banks to support, sustain, and manage their efforts in providing greater access to banking services in the countryside via GCASH cash-in and cash-out outlets (CICOs).

GCASH is the mobile money transfer service developed by Globe Telecom. It has become one of the fastest-growing payment mode for online shopping, gaming, and payment sites both in the Philippines and abroad.

This new initiative aims to demonstrate the effectiveness of applying channel management approaches in mobile phone banking by engaging GCASH CICOs as merchant partners of the banks.

Working with mobile money CICOs as partners is expected to significantly expand and increase the availability of mobile money to support mobile phone banking transactions of rural bank clients.

In the process, participating rural banks will improve their capability to profitably service their customers particularly in rural and remote areas.

Top officers and representatives from Agribusiness Bank, Bangko Kabayan, Cantilan Bank, First Valley Bank, Green Bank, GM Bank, and PR Bank interacted with officers from the RBAP-MABS Program, Mercy Corps, MICRA Philippines, and USAID.

They discussed trends, opportunities, and issues on mobile phone banking and channel management of GCASH CICOs as merchant partners. They were also provided an overview of the channel management initiative as well as its benefits for the banks.

The Mobile Phone Banking-Channel Management Project is an initiative of RBAP-MABS which is supported by United States Afgency for International Development, Mercy Corps, with support from the Bill & Melinda Gates Foundation. MICRA Philippines, an accredited MABS service provider, as well as support from Globe Telecom’s GXI, the mobile money issuer of GCASH.