Citi and GXI Expand Global Remittances With Electronic Payment System
Citi’s Global Transaction Services (GTS) has announced a partnership with G-Xchange (GXI), a wholly owned subsidiary of Globe Telecom, to provide global remittances to Globe Telecom’s customers. The services are offered through GCash electronic payment system from GXI. GXI’s partnership with Citi through Citi’s GTS division enables GCash customers to receive payments from remitters in countries where Citi’s cross-border payment services are used. In addition, Citi stands to significantly increase its remittance distribution network for domestic payments in the Philippines. The partnership is a first step towards a wide range of possible synergies, such as wireless payment for services, products, utilities, or even salaries through the mobility of GCash and the technology platforms of Citi.