Professional Documents
Culture Documents
Globe
Globe
Globe
Through our renewed commitment to "enriching lives through ease and relevance", our goal is to
enrich everyday communications by simplifying and removing obstacles in communication
technology so that we bring our customers closer to what matters to them most.
In 1928, Congress passed Act No. 3495 granting the Robert Dollar Company, a corporation
organized and existing under the laws of the State of California, a franchise to operate wireless
long distance message services in the Philippines. The Robert Dollar Company subsequently
incorporated in the Philippines as Globe Wireless Limited and in 1934, Congress passed Act No.
4150 transferring the franchise and privileges of the Robert Dollar Company to Globe Wireless
Limited.
Globe Wireless Limited was subsequently renamed Globe Mackay Cable and Radio Corporation.
Congress, through Republic Act 4630 enacted in 1965, further expanded its franchise to allow it
to operate international communications systems. Globe Mackay Cable and Radio Corporation
was closed in the Philippines by Martial law. Shortly before the expiration of its franchise, the
Batasan Pambansa in 1980 enacted Batas Pambansa 95 granting Globe Mackay Cable and Radio
Corporation a new franchise.
On June 15, 1990, Isla Communications Co., Inc. (Islacom) was incorporated. Through Republic
Act 7372, Islacom was authorized to develop full-service telecommunications network in the
country.
In 1991, Globe Mackay was subsequently merged with the Clavecilla Radio Corporation. Globe
Mackay as the surviving company was renamed GMCR, Inc. and on March 19, 1992, the
Philippine Congress passed Republic Act 7229 approving the merger and the transfer of the
franchise of Clavecilla Radio Corporation to the surviving company to be renamed GMCR, Inc.
In 1994, Islacom launched the country's first digital mobile communication services using GSM
world standard digital technology.
On August 20, 1998, the Philippine Securities and Exchange Commission (SEC) approved the
change of name of GMCR, Inc. to Globe Telecom, Inc. (Globe).
On February 22, 2000, Globe and its principal shareholders Ayala Corporation (AC) and
Singapore Telecom International Pte. Ltd. (STI), a wholly owned subsidiary of Singapore
Telecom (ST), and Islacom and its principal shareholders Asiacom Philippines, Inc.(Asiacom)
and DeTeAsia Holding GmbH (DeTeAsia), a wholly owned subsidiary of Deutsche Telekom AG
(DT), entered into a general agreement for a combination of the business and operations of Globe
and Islacom.
On June 27, 2001, Globe completed the share swap transaction with Islacom, which effectively
made Islacom a 100%-owned subsidiary of Globe.
In September 2002, Globe announced the operational integration of Globe and Islacom's wireless
networks. A key element of the integration involves the migration of existing wireless subscribers
of Islacom to the improved Touch Mobile (TM) service.
On August 7, 2003, the National Telecommunications Commission (NTC) approved the legal
transfer of Globe's wireline business, authorizations, properties, assets and obligations to Islacom.
On August 25, 2003, the SEC approved the change in name of Islacom to Innove
Communications, Inc. (Innove).
On March 30, 2007, Globe Telecom, through its president and chief executive Gerardo Ablaza Jr.
said it is diversifying from its core business to take advantage of the booming broadband
business. Ablaza said the company would increase its investments in cable systems and wire lines
to build its broadband Internet infrastructure. Industry analysts have viewed Globe's plan to invest
in cable systems as a strategy to compete more aggressively with Philippine Long Distance
Telephone Company (PLDT), which took advantage of its wire line infrastructure to diversify
into broadband business.
Ownership
SingTel - 47%
Ayala Corporation - 32%
Public Stock - 21%
Competition
Globe's main competitor in the fixed-line telephone market is PLDT. In the mobile
telephony market, its main competitors are Smart Communications and Talk N' Text, which is
owned by PLDT, and Sun Cellular, which is owned by Digitel.
COMPANY BACKGROUND
Cultures and Values:
These values are the anchor of our corporate existence:
• Customer Commitment - a steadfast pledge to provide only the best to the customer
• Excellence - the relentless pursuit of outstanding performance
• Integrity- a faithful adherence to the highest ethical standards
• Primacy and Worth of the Individual - respect for every employee as a unique individual,
a professional in his own right, and with his own sense of dignity and self-worth
• Teamwork - the collective drive to achieve the company’s vision and mission and uphold
the company’s values
LOCATION
Globe Telecom
5th Floor, Globe Telecom Plaza
Pioneer corner Madison Streets
1552 Mandaluyong City, Philippines
(main office)
Ayala Corporation
Globe Handyphone
TM (Touch Mobile)
PRODUCTS AND SERVICES
Globe has rolled out Globe broadband powered by WiMAX (Worldwide interoperability
for Microwave Access). Globe's network is considered the first and biggest 2.5Ghz WiMAX
(802.16e) broadband network in South East Asia. It is first in the Philippines to commercially
launch a consumer WiMAX offering. Currently, Globe has around four thousand subscribers on
its WiMAX network, after only a few weeks. The service is initially available in selected areas in
South Luzon, Metro Manila, Visayas and Mindanao. Globe continues to roll-out WiMAX sites,
as a complement to its existing DSL and 3G Internet facilities, to ensure the internet gets to every
Filipino who needs it. Globe is providing WiMAX to selected local community government
offices in Cavite, Batangas and Cagayan de Oro City. Globe is also providing Internet access via
WiMAX to selected schools and city hospitals in Mindanao as part of its thrust of community
service to the marginalized areas.
Globe has been expanding its wireless broadband network to accommodate the increasing
demand for the Internet. In 2009, Globe introduced Globe Tattoo and Globe broadband powered
by WiMAX (Worldwide interoperability for Microwave Access). In June 2009, the company
launched hyper-speed plans via fiber-to-the-home technology.
Globe Telecom brought iPhone 3G to the Philippines on August 22, 2008. iPhone 3G
combines all the features of iPhone plus 3G networking, built-in GPS for expanded location-
based mobile services, and iPhone 2.0 software which includes support for Microsoft Exchange
ActiveSync.
With Globe broadband Tattoo, users can experience speeds of up to 2 Mbps, delivered
via 3G and High-Speed Downlink Packet Access (HSDPA).
SulitChat is Globe's messaging offer to subscribers who never want to be disconnected from their
chatmates and/or textmates. It allows them to continue sending messages complete with
emoticons even in the absence of a laptop or personal computer.
GCASH Click answered the need for a more secure mode of payment for Internet buys. It’s a new
payment option for merchants and consumers transacting on the web, which assures security and
confidentiality.
Duo allows subscribers unlimited calling to and from any landline number, as well as,
unlimited calling to and from any Globe DUO postpaid mobile subscriber.
Super Duo is an upgrade of the Globe Duo service. It is an unlimited mobile-to-landline call
service, which also enables subscribers to make unlimited calls to any Globe, TM and Tattoo
mobile numbers within the Philippines.
Super Surf is an unlimited mobile Internet browsing service which enables subscribers to
gain unlimited access to surf, e-mail, chat and blog from mobile phones, laptops or desktop
computers.
Super Unli is a service that provides unlimited Globe to Globe/Tattoo/TM text and calls
for 7 days or 1 day.
TAGLINE
“Abot mo ang mundo.”
ORGANIZATIONAL STRUCTURE
Administrators
The President & CEO, guided by the Company’s vision, mission, and values statements, is
accountable to the Board for the development and recommendation of strategies, and the
execution of the defined strategic imperatives. The President & CEO is assisted by the Deputy
CEO to whom the heads of each of the major business units and support groups report.
The Office of Strategy Management (OSM) reports to the Deputy CEO and oversees the
Company’s strategy management processes from strategy formulation, translation to executable
plans, horizontal alignment of business objectives across the organization, to execution and
performance tracking linked to the Company’s rewards system.
Every year, the Company reviews and formulates its strategic priorities which then guide the
formulation of the key business strategies and goals for the year. Using the balanced scorecard
framework, each business group identifies financial and non-financial objectives, and sets targets
and initiatives to achieve them. This is captured in what is called the groups’ Terms of Reference
(TOR). To ensure line of sight, the group TORs are cascaded to all employees, making sure that
everyone understands and appreciates their contribution to the group goals. This helps in
developing individual performance plans that are aligned with the key strategies. Rewards and
incentives are given based on the achievement of the committed group and individual targets.
Key programs, projects, and major organizational initiatives are taken up at the SEG, composed
of the President & CEO, the Deputy CEO, as well as the heads of each of the major business units
and support groups. All budgets and major capital expenditures must be approved by the SEG
prior to endorsement to the Board for approval. The Chief Operating Adviser and Chief Technical
Adviser also provide inputs to the SEG as required. The SEG meets at least twice a month.
Management is mandated to provide complete and accurate information on the operations and
affairs of the Company in a timely manner. Management is also required to prepare financial
statements for each preceding financial year in accordance with Philippine Financial Reporting
Standards (PFRS). Management’s statement of responsibility with regards to the Company’s
financial statements is included in this annual report.
The annual compensation of the ten (10) top officers of the Company, including the President &
CEO, is disclosed in the Definitive Information Statement distributed to the shareholders. The
total annual compensation includes the basic salary, guaranteed bonuses, fixed allowances, and
variable pay (performance-based annual incentive).
BOARD OF DIRECTORS
Delfin Lazaro
Director
Jaime Augusto Zobel de Ayala
Chairman
Roberto F. de Ocampo
Director
Gerardo C. Ablaza, Jr.
Co-Vice Chairman & Chairman of ExCom
Romeo L. Bernardo
Director
Hui Weng Cheong
Co-Vice Chairman
Xavier P. Loinaz
Independent Director
Comments:
The duties and responsibilities of all the executives are equally distributed in each of them. They
all have different tasks and jobs and the tasks assigned to them are given according to their
positions.
Man Power
Name Position
Gil B. Genio Head - Business CFU & President - Innove Communications, Inc.
Atty. V. Froilan M. Castelo OIC for Corporate and Legal Services Group
Name Position
Peter George Bithos Advisor for the Consumer Customer Facing Unit
Comments:
There are many branches of specialization in the organization that’s why all of their tasks divided
equally and properly and because of this planning, organizing and decision making is not a hard
thing to do.
FINANCES
STOCK INFO
Dividends
Globe is committed to creating more value for its shareholders. To further enhance our
shareholders' value, Globe aims to maintain healthy performance and continue with its cost
management measures with a view to achieving steady and sustained growth in earnings and
dividends over time.
History of Dividends
Stock Dividends
On January 29, 2002, Globe Telecom's BOD approved the declaration of a 25% stock dividend
payable to all common stockholders of record as of April 30, 2002.The stock dividends
declaration was approved by Globe Telecom's stockholders on April 11, 2002 and approved by
the Philippines SEC in June 2002.A total of 30,379,672 additional common shares were issued in
June 2002 as payment for the said stock dividends. The stock dividends were issued at par out of
additional paid-in capital.
Cash Dividends
Information on Globe Telecom’s BOD declaration of cash dividends follows:
Date
(In Thousand Pesos,
Except Per Share
Per
Figures)
share Amount Record Payable
December 11, 2006 P 0.41 P 64,669 December 31, 2006 March 15, 2007
December 7, 2007 0.31 49,449 December 18, 2007 March 17, 2008
December 2, 2008 0.38 60,637 December 18, 2008 March 17, 2009
February 7, 2006 20.00 2,638,072 February 21, 2006 March 15, 2006
July 31, 2006 30.00 3,961,745 August 17, 2006 September 12, 2006
February 5, 2007 33.00 4,359,650 February 19, 2007 March 15, 2007
August 10, 2007 33.00 4,362,385 August 29, 2007 September 14, 2007
November 6, 2007 50.00 6,616,708 November 20, 2007 December 17, 2007
February 4, 2008 37.50 4,962,508 February 18, 2008 March 13, 2008
August 5, 2008 87.50 11,579,763 August 21, 2008 September 15, 2008
On January 29, 2004, the BOD of Globe Telecom approved a dividend policy to declare cash
dividends to its common stockholders on a regular basis as may be determined by the BOD from
time to time. The BOD had set out a dividend payout rate of approximately 50% of prior year’s
net income payable semi-annually in March and September of each year. This will be reviewed
annually, taking into account Globe Telecom’s operating results, cash flows, debt covenants,
capital expenditure levels and liquidity.
On July 31, 2006, the BOD of Globe Telecom amended the dividend policy increasing the
dividend payout rate at approximately 75% of prior year’s net income to be implemented starting
2006’s second semi-annual cash dividend declaration.
On November 6, 2007, the BOD declared a special cash dividend of P50 per common share based
on shareholders on record as of November 20, 2007 with the payment date of December 17,
2007. The special dividend was in consideration of the record profitability and strong operating
cash flows of Globe Telecom, and to optimize Globe Telecom’s capital structure and enhance
shareholder value.
On August 5, 2008, the BOD approved the declaration of the second semi-annual cash dividends
in 2008 of P4,962.61 million (P37.50 per common share) and additional special dividend of
P6,616.81 million (P50.00 per common share) to common stockholders of record as of August
21, 2008 and payable on September 15, 2008.
On February 3, 2009, the BOD approved the declaration of the first semi-annual cash dividend of
P32 per common share, payable to shareholders on record as of February 17, 2009. Total
dividends of P4.234.88 million will be paid on March 10, 2009.
Ayala Corporation
Ayala Corporation has, through the years, transformed itself into one of the Philippines most
diversified conglomerates, with operations in real estate, financial services, telecommunications,
utilities, electronics, information technology and automotive industries. The diversity of Ayala's
investments in various lines of businesses has ensured stable earnings performance, and has led
the various companies in the Ayala Group to excel in their respective sectors.
As of June 30, 2008, Ayala Corporation owns 40,319,262 shares or 30.5% of the common shares
of Globe Telecom, Inc.
SingTel
Singapore Telecom International (Singtel) was formed in 1988 to spearhead Singapore Telecom's
overseas investments. It was later on incorporated in March 1992 and became a public company
in October 1993. Serving both the corporate and consumer markets, the SingTel Group is
committed to bringing the best of global communications to customers in the Asia Pacific and
beyond. With siginificant operations in Singapore and Australia, the Group provides a
comprehensive portfolio of services that include voice and data services over fixed, wireless and
Internet platforms.
The Groups major investments in the region include Advanced Info Service of Thailand, the
Bharti Telecom Group of India, Globe Telecom of the Philippines, Pacific Bangladesh Telecom
of Bangladesh and Telkomsel of Indonesia. Together with its regional partners, Singtel is Asia's
largest multi-market mobile operator, serving more than 92 million customers in seven markets.
Over the years, Singtel has grown to be a global player with a strong regional heritage. With one
of the most extensive and advanced telecommunications infrastructure, the Group offers
unparalleled reach in Asia and beyond.
As of June 30, 2008 SingTel owns 62,646,486 shares or 47.3% of the common shares of Globe
Telecom, Inc.
Public
As of June 30, 2008, public float of Globe Telecom, Inc.'s common shares stood at 22.2% or
29,370,488 shares.
Asiacom
As of June 30, 2008, Asiacom owns 100% or 158,515,021 of preferred shares.
Stock Profile
On August 11, 1975, Globe Telecom, Inc. (as Globe Mackay Cable and Radio Corporation or
GMCR) listed its shares in the Philippine Stock Exchange (PSE) and became the first
telecommunications company in the Philippines to do so.
In 2000:
Common shares were declassified;Reverse stock split changed par value of common shares from
P1 per share to P50 per share.
Authorized capital stock was increased from P5 billion to P11.25 billion.158 million preferred shares
were issued at P5 par value. Issuance of 29 million common shares to DeTeAsia Holding GmbH
(DeTeAsia), a wholly-owned subsidiary of Deutsche Telekom AG. Board of Directors of Globe
approves the issuance of 12 million common shares of Globe Telecom (post declassification and post
reverse stock split) as underlying shares for Globe Telecom Inc.'s program to raise equity via the
issuance of Philippine Depositary Receipts (PDRs).
In 2001:
Globe Telecom, Inc.'s Board of Directors approves the creation of 20 million series B preferred
shares with P50 par value and approves the issuance of an additional 16 million common shares. On
July 29, 2001, Globe Telecom, Inc.'s preferred shares were listed with the PSE.
In 2002:
Globe Telecom, Inc. declares a 25% stock dividend to all common shareholders of record as of April
30, 2002. A total of 12 million PDRs have been exercised by the end of the year.
In 2003:
In October 2003, DeTeAsia sold its 24.8% equity ownership in Globe Telecom, Inc to Ayala
Corporation (10.04 million common shares), SingTel (15.64 million common shares) and Globe
Telecom, Inc. (12 million common shares).
In 2005:
On February 1, 2005, the BOD approved an offer to purchase one share for every fifteen shares (1:15)
of the outstanding common stock of Globe Telecom from all stockholders of record as of February
10, 2005 at P950.00 per share. The approval allowed Globe Telecom to purchase up to 9,326,924
shares representing 6.67% of Globe Telecom's outstanding common shares. Each shareholder is
entitled to tender a proportionate number of shares at the 1:15 ratio for purchase by Globe Telecom
upon and subject to the terms and conditions of the tender offer. Globe Telecom also filled with the
SEC the tender offer report with a copy of the letter to the shareholders, the terms and conditions of
the tender offer and the tender form. Globe Telecom commenced the tender offer on February 3, 2005
and ended on March 3, 2005.
On April 4, 2005, Globe Telecom's stockholders approved the cancellation of the 20.06 million
treasury shares consisting of the 12.00 million shares acquired from Deutsche Telecom (DT) in
2003 and the 8.06 million shares acquired during the share buyback, and the amendments of the
articles of incorporation of Globe Telecom to reduce accordingly the authorized capital stock of
the corporation from P11,250.00 million to P10,246.72 million. On April 29,2005, Globe
Telecom applied for the retirement and cancellation of the existing treasury shares with the SEC,
which the latter approved on October 28, 2005. Accordingly, Globe Telecom cancelled the
existing treasury shares at cost. The difference between the par value and cost of treasury shares
was charged to "Additional paid in capital" and "Retained earnings" accounts amounting to
P5,179.35 million and P9,685.80 million, respectively
In 2008:
On June 27, 2008, Ayala Corporation announced the sale to Singapore Telecom International Pte.
Ltd. (SingTel) of 3.8 million common shares of Globe Telecom ("Globe") at P1,21 0 per share. With
the sale, Singtel's ownership of Globe common shares will now be 47.3% from 44.5%.
Capital Stock (as of December 31, 2008)
Comments:
Globe Telecom is one of the most successful company in the country and because of that many
businessmen wanted to be a stock holder of this company. And as years passes by shares in the
company grow bigger and bigger that’s what makes the Globe Telecom successful and always on
the top.
OPERATIONS
. THE AGREEMENT
This Agreement governs the relationship between GLOBE TELECOM INC, (hereinafter
referred to as GLOBE TELECOM) and an eligible Subscriber with an approved subscription plan
(hereinafter referred to as the “Subscriber”) and defines the rights and obligations of the
Subscriber to GLOBE TELECOM. GLOBE TELECOM reserves the right to adjust, modify,
amend or supplement these terms and conditions as the service may require. Said modifications,
amendments, adjustments however, shall be posted in GLOBE TELECOM’s website:
www.globe.com.ph and once published the same becomes binding to the Subscriber as it shall be
the obligation of the Subscriber of be informed thereof by accessing such website. This
Agreement shall take effect immediately upon activation by GLOBE TELECOM of the
subscription subject to the compliance/observance of the terms and conditions stated herein.
2. SERVICE
GLOBE TELECOM shall provide the cellular mobile telephone service in accordance with
the subscribed plan. The subscription is generally capable of Domestic/National Direct Dialing
(NDD), International Direct Dialing/International Long Distance Service (IDD), and International
Roaming, unless the same have been restricted according to payment, billing and credit limit
conditions found in this Agreement.
When availing of the International Roaming Service, the Subscriber agrees to be subject to
and abide by the terms and conditions for Mobile Phone Services and those applicable to the
domestic Subscriber of the foreign mobile telephone service network that the Subscriber has
selected.
The Subscriber ensures GLOBE TELECOM that he/she is using the International Roaming
Service activation for his own use. Thus, the Subscriber is responsible and will pay for all calls,
SMS, VAS originating from his Handyphone or otherwise reflected on his phone bills. The
Subscriber acknowledges that when roaming, he will be charged for both incoming and outgoing
voice call and SMS. Some roaming partners may or may not charge incoming SMS. Voice calls
and SMS rates may vary depending on the roaming partner and is also subject to change at the
discretion of the roaming partner without need of prior notice. The Subscriber also acknowledges
his obligation to secure from GLOBE TELECOM the charging principle of the country of
destination.
The Subscriber is aware and agrees that while roaming, GLOBE TELECOM will monitor all
calls, SMS and VAS usage on a daily basis and strictly implement the credit limit on the
Subscriber’s account. The Subscriber understands and agrees that GLOBE TELECOM will call
the Subscriber in the event of any unusual surge in call, SMS and VAS usage.
The Subscriber ensures that all call charges are settled in full in order to avail of the
International Roaming Service. Moreover, when the sum of previously billed but unsettled
charges and the unbilled charges corresponding to calls placed while roaming in these countries
exceed the credit limit, GLOBE TELECOM may require and the Subscriber shall agree to pay all
billed and unbilled charges as a condition for the continuation of the International Roaming
Service. The Subscriber agrees that GLOBE TELECOM may temporarily or permanently
disconnect the service in the event that charges are not settled on a timely basis as required by
GLOBE TELECOM.
In case of loss, the Subscriber agrees to immediately notify GLOBE TELECOM by calling
collect (operator-assisted) the Globe Roaming support hotline at (632) 730-1212. GLOBE
TELECOM shall only shoulder collect call charges to the Globe Roaming Support Hotline. Any
other charges, including, but not limited to, IDD charges, hotel call charges or surcharges, shall
be shouldered by the Subscriber. In the event that the loss is not immediately reported, Subscriber
shall be liable for all calls made using the handset up to and until the Subscriber has reported the
loss.
The Subscriber understands that GLOBE TELECOM reserves the right to cancel or pre-
terminate the International Roaming Service at any time without incurring liability thereto. In
support of the Subscriber’s application for the International Roaming Service, the Subscriber
shall provide GLOBE TELECOM with all the relevant information which it may require to effect
the International Roaming Service.
The Subscriber agrees that while outside the Philippines, his contact person in the Philippines
as indicated in this form is authorized to transact with GLOBE TELECOM regarding the
Subscriber’s International Roaming Service. The Subscriber shall promptly inform GLOBE
TELECOM prior to his departure, if the contact person or his contact details changed. GLOBE
TELECOM shall not be liable for any failure on the part of the Subscriber to inform GLOBE
TELECOM of any change in contact person or contact person details.
9. CALL REDIRECT
Call redirection is a temporary measure implemented by GLOBE TELECOM for its own
safety and that of the Subscriber, by virtue of which all of Subscribers outgoing calls are
redirected to a GLOBE TELECOM operator instead of being completed to the called party. Call
redirection allows GLOBE TELECOM to communicate to the Subscriber any issues affecting his
service and the requirements which the Subscriber must comply with in order to restore his
normal outbound calling service. GLOBE TELECOM may redirect the Subscriber’s
telecommunication service in the event it finds inconsistencies in the information provided in the
Service Agreement, non-payment of an overdue account, usage in excess of credit limit, abnormal
usage patterns, fraud, or other similar cases. Subscriber shall have no cause of action against
GLOBE TELECOM for call redirection. GLOBE TELECOM may reconnect the service of
Subscriber once the Subscriber fully complies with GLOBE TELECOM’s requirements.
Any temporary disconnection, to the satisfaction of GLOBE TELECOM, within five (5) days
from such temporary disconnection, reconnection or restoration of the service shall be the sole
prerogative of GLOBE TELECOM and subject to payment of service modification fees. Upon
reconnection or restoration of service, the minimum subscription period shall be automatically
extended for a period equivalent to the period of temporary disconnection.
During the period of Temporary Disconnection, the counting of the lock-up period will
likewise be suspended or interrupted. Computation of the unfulfilled lock-up period shall be from
effectivity date of temporary disconnection to the expiration of the holding period. Any fraction
of a month or remainder number of days will be counted as one full month.
Should the Subscriber want to continue with the Service after his/her/its account has been
permanently disconnected, such Subscriber needs to re-apply for the said service subject to all
conditions set forth by GLOBE TELECOM.
All the Terms and Conditions stated herein have been read and understood by the Subscriber
and his signature at the bottom of this agreement indicates acceptance thereof. This Agreement
shall take effect immediately upon GLOBE TELECOM’s approval of the application. Subscriber
shall provide true, correct and complete information as may be required by GLOBE TELECOM.
Comments:
Globe Telecom has so many operations being done and that’s one of the reason who makes them
number 1. In all their operations they assure that the needs of their customers will be given
properly and it can give the costumers the real satisfaction.
GLOBE GCASH and BOKU Partner to Create the Blueprint for International Mobile Payments
February 16, 2010 – MANILA, PHILIPPINES AND SAN FRANCISCO, CA – Globe Telecom,
a leading mobile operator in the Philippines through its wholly owned mobile commerce
subsidiary G-Xchange Inc (GXI), is partnering with BOKU, Inc., a global leader in mobile
payments, to expand the acceptance of the Globe GCASH service internationally, the companies
announced today. The deal opens the BOKU mobile payment platform and growing international
merchant community to Globe’s GCASH subscribers.
By partnering with BOKU, GCASH extends its reach outside the Philippines to a global
community of more than 1,000 BOKU merchant partners and a mobile payments community that
covers over 190 carriers worldwide, allowing its users to purchase virtual goods from any
merchant in the BOKU global merchant network.
“The Philippines is one of the richest markets in the world for mobile payments.” said Rizza
Maniego-Eala, President of G- Exchange, Inc. “Since its inception in 2004, GCASH has been the
widely used mobile payment method for online purchases in the Philippines. BOKU’s focus on
mobile payments, specialized team, large merchant base, and tier one investors makes them the
perfect partner in providing GCASH subscribers with a rich new experience in mobile commerce,
that opens up the opportunity to explore and purchase virtual goods from the vast international
market.”
“This partnership is a perfect meeting of two companies’ visions for the way to pay in the future”
said Mark Britto, CEO of BOKU. “This is a great model for mobile payments, enabling carriers
to reach global merchants through BOKU’s network, expanding capabilities for online and
physical purchases, while driving increased carrier revenues and reducing subscriber churn.”
BOKU launched in June 2009 and has seen tremendous growth in the last year. Over this brief
period the company has developed direct mobile payments service relationships with over 1,000
game and application developers, including almost all of the top applications for virtual goods
and currencies purchased on Facebook. BOKU’s mobile payment service, Paymo, is enabled
across 190 carriers worldwide in over 60 countries, and reaches a potential 1.8 billion customers.
About GXI and GCASH
G-Xchange, Inc. (GXI) is a pillar in m-commerce and a fully-owned subsidiary of Globe Telecom
which is a leading full service telecommunications company in the Philippines. GXI pioneered
the revolutionary model in cardless and cashless mobile commerce service called GCASH which
was launched in the Philippines in October 2004. GCASH is an internationally-acclaimed micro
payment service which transforms a mobile phone into a virtual wallet for secure, fast, and
convenient money transfers at the speed and cost of a text message. Since GCASH launch, GXI
has established a wide network of local and international partners that includes government
agencies, utility companies, cooperatives, insurance companies, remittance companies,
universities, and commercial establishments which have agreed to accept GCASH as a means of
payment for products and services.
About BOKU
BOKU is creating the standard for online payments using your mobile phone, making it easy to
pay for digital goods and social experiences across the web. With a strong focus on reliability and
security, BOKU's goal is to bring bank-grade payments technology and mobile users together on
the web, creating a trusted, viable and accessible market for consumers, publishers and carriers
alike. Based in San Francisco with offices in Europe, Asia and Latin America, BOKU reaches
over 1.8 billion consumers worldwide, and is funded by leading entrepreneurs and venture
capitalists Benchmark Capital, DAG Ventures, Index Ventures and Khosla Ventures. For more
information, please visit BOKU.com.
BOKU, Paymo and Pay by Mobile are registered trademarks of BOKU, Inc., and/or its
subsidiaries. All other brand names, product names, or trademarks belong to their respective
holders. BOKU reserves the right to alter product offerings and specifications at any time without
notice.
Comments:
Globe Telecom have the right decision in having their operations not just here but also in abroad.
It’s a great thing to know that a company in the Philippines would like to compete globally.
Rogationist College
RENE ANDAL
March 9, 2011