Philippine telecommunications company Globe Telecom announced a new partnership with financial services company American Express. The new partnership, through Globe Telecom's G-Xchange Inc. mobile commerce subsidiary, will develop an online payment solution to let Globe GCASH mobile wallet customers shop online for both digital and physical goods on sites that accept American Express.

"With less than 5 percent credit card penetration in the Philippines, our new solution will provide consumers with a new and compelling payment option — and all they will need is a GCASH mobile wallet to start shopping on online sites outside the Philippines," said Paolo Baltao, president of GXI.

Launched in 2004, GCASH is a mobile commerce service in the Philippines that lets users make purchases, transfer money from person to person, and make international or domestic remittance payments.

"The Philippines is a market with strong growth potential, and we see this across several sectors from banking services to e-commerce," added Kula Kulendran, Amex EVP and head of global networks services in Japan, Asia Pacific, Australia.

Kulendran said the agreement with GXI will provide consumers with broader access to global online shopping opportunities and services as well as drive innovative product development and strong business growth for both companies.

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