Globe, Softbank join hands for Japan remittances

Starting Nov.1, Filipinos based in Japan can send their remittance to the Philippines using the Softbank Payment Service Corp. and GCash Remit, the remittance service of G-Xchange Inc. (GXI), a subsidiary of Globe Telecom Inc. Softbank Payment Service is a wholly owned fund transfer subsidiary of Softbank Corp., a Japanese telecommunications and media corporation, with operations in broadband, fixed-line telecommunications, e-commerce, Internet, broadmedia, technology services, finance, media and marketing, and other businesses. By using GCash Remit, a customer can deposit money in Japan in advance and remit the required amount in pesos from the deposit to the Philippines at any time 24/7 from the service website. The beneficiary in the Philippines can receive the amount remitted in 10 minutes, at the earliest, through the various methods of receipt. Among these are: the more than 18,000 Globe cash pick-up outlets throughout the Philippines, mobile money platform GCash, and bank transfer. The minimum remittance charge is ¥500 per transaction, which is among the lowest in the industry. Softbank Payment Service’s partnership with GXI provides GCash Remit mainly to Filipinos living in Japan to enable them to send money securely to their family and friends, who experience difficulties in accessing banking services in the Philippines by providing more convenient services. The Softbank subsidiary intends to continue to enhance settlement services in a rapidly changing marketplace for the Internet business, and to provide high value-added services not only in Japan but also in Asian and other foreign counties. A service charge may be applied when depositing money to a remittance reserve account. The amount of remittance per transaction is limited depending on how the money is received. If the money is received via bank transfer, an additional charge of ¥180 is required for each transaction.