Guagua Rural Bank (GR Bank) officially joins the Philippine mobile phone banking community as it formalized its partnership with G-Xchange Inc. in utilizing the GCASH platform to facilitate its mobile phone banking services (MPBS).
Developed under the Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) program, MPBS involves the use of mobile phones in performing bank transactions such as deposits, withdrawals, remittances and loan payments, among others.
Facilitated by the USAID-supported RBAP-MABS program, GR Bank signed a memorandum of agreement with G-XChange, Inc., Globe Telecom’s mobile commerce subsidiary, on February 18 during the Central Luzon Federation of Rural Bank Management Conference in Hotel Stotsenberg, Clarkfield, Angeles City, Pampanga
With this partnership, GR Bank will utilize GCASH to expand its banking operations. Initially, the bank will accommodate cash-in and cash-out and GCASH Remit services. With these new services available to its banking clients, GR Bank can now further expand their product portfolio that will assist in widening customer reach without borders.
GR Bank is one of the Top 10 rural banks in the country in terms of resources. This agreement enables the bank to offer mobile phone banking services via the GCASH platform for their clients in the countryside through its network of 15 branches located in Pampanga, Tarlac, Olongapo and Bataan. GR Bank now joins more than 60 rural banks now offering GCASH-based MPBS in over 885 rural bank branches and other banking offices nationwide.