GLOBE Telecom, Inc. said on Wednesday its multi-payment platform Electronic Commerce Payments Inc. (ECPay) is aiming to onboard more general trade retailers this year, increasing the number to 70,000.
“ECPay is targeting to onboard 70,000 general trade retailers by the end of the year from the current 22,000,” Globe said in an e-mailed statement.
Globe acquired 77% equity interest in the multi-payment platform for about P1.54 billion in October 2019.
When the pandemic started last year, ECPay saw a significant increase in digital merchant partners, biller portfolio, and customer reach, according to Globe.
“ECPay [had] recorded an 18% increase in digital merchant partners in April to July (2020), resulting in a 114% hike in the number of customers reached via mobile apps for eMoney, banking, lending as well as payment vending machines,” Globe said on its website.
Aiming to go beyond telco, Globe expanded its services to include fintech, healthtech, adtech, and e-commerce, among others.
“Although telco remains to be our core business, we continue to build businesses that leverage our reach as a telco, our capital, and everything else that we do,” Globe President and Chief Executive Officer Ernest L. Cu said in a statement on Wednesday. — Arjay L. Balinbin
