Globe, the second largest operator in the Philippines, has signed an MoU with e-commerce firm Lazada so that its GCash wallet can be used for payments on its partner’s sites across South East Asia.
The announcement comes just a few months after Lazada’s parent, Rocket Internet, agreed to set up a joint venture targeting payments in emerging markets with Smart, the leading operator in the Philippines.
Globe and Smart have a keen rivalry, not least in payments where both have a track record of innovation.
Rocket’s earlier alliance with Smart looks more in depth given parent PLDT bought a 10 per cent stake in Rocket for $446 million.
Meanwhile Globe and Lazada will create an integrated platform in coming months so the operator’s mobile wallet can make payments on its partner’s e-commerce sites in Indonesia, Malaysia, Phlippines, Singapore, Thailand and Vietnam.
Lazada has over 15,000 merchants and 1.4 million active users and is currently valued at $1.2 billion.