Ayala and Globe partnership with Jack Ma’s fintech enterprise fuels financial inclusion
Through a partnership with Jack Ma’s Ant Financial, Globe Telecom and Ayala Corporation continue to promote financial inclusion for the underserved Filipinos. In doing so, it continuously invests in creating new channels and access points that broaden payment and lending options for all. Ayala and Ant Financial recently invested in Mynt, Globe’s fintech subsidiary. With Ant Financial’s scale and experience, and Ayala being one of the Philippines’ largest conglomerates, Mynt has the potential to expand its reach and tap on their expertise to fast track its fintech products and services, ultimately to serve more people.
Powered by Mynt, GCash is poised to lead the future of cashless payments in the Philippines.
Eric Jing, Chief Executive Officer of Ant Financial Services Group together with Globe President and CEO Ernest Cu, Ayala Corporation President and COO Fernando Zobel de Ayala, Ayala Land President and CEO Bobby Dy, and Mynt President and CEO Anthony Thomas commemorated their partnership, opening the Philippine retail industry to electronic payments through GCash. GCash is an internationally acclaimed mobile wallet service of Mynt, which can be used to buy load, pay bills, send money, and pay for goods and services whether online, or offline.
Ayala Corporation President and COO, Fernando Zobel de Ayala shared his optimism for the possibilities presented by the joint venture: “We are thrilled to mark this special milestone with Mr. Jack Ma, and Mr. Eric Jing of Ant Financial — it goes without saying that we are very pleased to partner with Ant Financial, given their level of experience and expertise in this field. We look forward to innovating and evolving with the Filipino consumer, together. This day marks a special moment in the history of technology and payments in the Philippines — this launches the first broad application of such technology, and marks GCash as the leader in this space.”
Joining GCash in showcasing the future of payments in the Philippines is Ayala Malls. Glorietta is the first Ayala Mall to offer the GCash payment system in many of its shops and restaurants, as well as its cinemas. The system will be rolled out very soon to other Ayala Malls such as Greenbelt, TriNoma, Market! Market!, Alabang Town Center, Ayala Center Cebu, Bonifacio High Street, UP Town Center, Ayala Malls The 30th, Ayala Malls Vertis North, and Ayala Malls South Park.
Aside from this partnership with Globe and Ant Financial, the Ayala group’s pioneering entry into e-commerce focuses on the ePharmacy and online retail spaces through the investments in MedGrocer and Zalora, respectively. All these new developments are aligned with Ayala’s recent strategic investments in fintech and e-commerce to meet the Filipinos’ changing needs and accelerate the development of the Philippines’ digital economy.