CASHLESS TRANSACTIONS. This undated photo shows (left to right) Globe Business account manager Michelle Perez, GCash public sector senior manager Ronelo Buhawe, Cordova Mayor Therese Sitoy-Cho, and Vice Mayor Ximgil Dino Sitoy presenting a mock-up of the Cordova Citizens ID. The municipality of Cordova in Cebu tapped Globe Telecom to give its 20,000 constituents access to GCash in order to promote cashless transactions, including receiving financial aid from government. (Photo courtesy of Globe)
CEBU CITY – Aimed at building an "intelligent city," the municipality of Cordova in Cebu province has tapped Globe Telecom, through its enterprise arm Globe Business, to give its 20,000 constituents access to GCash, a platform for money transfers.
Through the municipality’s GCash-enabled "Citizens ID", the residents will be able to conduct cashless transactions, including receiving financial assistance from the government. Cordova is a third-class municipality that borders Lapu-Lapu City in the south of Mactan Island.
“We’re grateful to Globe for helping us conceptualize our Citizens ID and other projects involving the GCash platform. Through this endeavor, we aim to assist thousands of households and journey with them towards financial inclusivity. With Globe’s dedication to service, we were able to fast-track our Teche Cordova project -- our leap towards transforming Cordova into a smart city powered by Globe,” Cordova Mayor Therese “Teche” Sitoy-Cho said in a statement on Monday.
GCash is a mobile wallet run by Globe Fintech Innovations Inc., the fintech arm of Globe Telecom.
The municipality’s Citizens ID serves as more than just an identification card for the townsfolk.
Aside from storing the cardholder’s information, the government's emergency subsidy under the Social Amelioration Program (SAP) will also be coursed through the ID.
In turn, constituents will be able to securely use their GCash account card for financial transactions such as paying for groceries, utility bills, prepaid load, buying products online, opening savings accounts, and more.
Globally, over 100 million adults still receive government transfers, wages, or pensions in cash.
According to a 2019 Financial Inclusion Survey released by the Bangko Sentral ng Pilipinas in 2020, around 51.2 million Filipinos remain unbanked, making it nearly impossible for them to accumulate savings or establish a financial history to access other financial services.
“We believe in inclusivity and digital democracy. Individuals and communities should have equal access to technologies that make their lives better,” Peter Maquera, senior vice president of Globe Business, said. “By working with organizations, like the Municipality of Cordova, we're able to let more people participate in the country’s economic growth and achieve collective resilience through digital tools,” he said.
As a purpose-driven enterprise, Globe said it relentlessly works with the government and businesses in achieving its sustainable development goals established by the United Nations, including highlighting the roles of infrastructure and innovation as crucial drivers of economic growth and development. (PNA)
