Western Union services at a lower rate for Filipinos

Customers in Philippines will soon be able to send and receive money from abroad through their mobile phones under the partnership of Globe Telecom Inc. with global money transfer firm Western Union.

Globe mobile-phone subscribers will be provided with Globe’s Mobile Money Transfer Service through its Gcash service that enables users to make payments for purchases and other transactions with electronic cash stored in their mobile wallet accounts.

Rizza Maniego-Eala, the president of G-Exchange Inc., the operating unit of Globe that will handle the remittance services noted that the service will allow Filipinos from overseas to send money to their relatives and friends at rates lower than for other existing transfer methods.

For instance, a remitter in the US who sends $100 to the Philippines under the Gcash scheme will be charged only $4.50 fee which is less costly than the traditional remittance channels that charge $16 to $20 per transaction.

At the moment the new service is being piloted but Globe expects it to be fully rolled out in 12 to 18 months.