MYNT, the parent company of mobile payment service GCash, signed memoranda of agreement (MOAs) with shareholders Mitsubishi Corp. and MUFG Bank to expand digital financial services and strengthen its regional presence during President Ferdinand Marcos Jr.’s state visit to Japan.
Globe Telecom Inc., which owns Globe Fintech Innovations Inc. (doing business as Mynt), said Thursday that the agreements signed on May 27 with parent firm Ayala Corp., Mitsubishi and MUFG were aimed at strengthening the e-wallet’s ecosystem and expanding its digital financial services.
One MOA seeks to grow the e-wallet’s user base and expand its services — which now include lending, wealth management, and digital payments — while integrating the platform into partner ecosystems across retail, banking, real estate, energy and mobility.
The second MOA, meanwhile, focuses on developing digital solutions aimed at enhancing digital engagement and creating a more connected digital experience for consumers. This means looking for ways to integrate GCash into the companies’ businesses across banking, retail, real estate, energy, and transport.
“These partnerships represent a massive vote of confidence in Mynt’s long-term vision,” Mynt President and CEO Martha Sazon said.
“By combining the leading digital platform of GCash with the unparalleled global networks and operational ecosystems of MUFG, Mitsubishi, and Ayala, we are unlocking unprecedented value and taking Philippine fintech to the global stage,” she added.
As the deals were signed during Marcos’ state visit to Japan, Globe noted that the event underscored expanding cooperation between Philippine and Japanese private sector groups in digital transformation and financial inclusion.
Another agreement brought together Globe, Ayala, Mitsubishi, MUFG, KDDI Corp. and other partners to pursue collaboration across so-called intelligent cities, digital finance and data-driven ecosystems.
For this broader partnership, one of the initiatives is the development of “Intelligent City” platforms, which will explore the use of artificial intelligence, Internet of Things, and advanced connectivity technologies to support urban services and digital infrastructure.
“These partnerships reflect our shared commitment to nation-building, leveraging innovation, infrastructure, and technology to support the Philippines’ long-term growth,” said Ayala Corp. President and CEO Cezar Consing.
“We are creating more connected cities, more inclusive financial systems, and more opportunities for Filipinos to participate in and benefit from the digital economy,” he added.
The partnerships, Globe added, also envision supporting broader financial inclusion efforts and expanding digital ecosystem integration among participating companies.
Globe shares on Thursday dropped P35.00, or 2.05 percent, to close at P1,675.00 each, in line with a 1.73-percent decline for the benchmark Philippine Stock Exchange index.
Shares of Ayala fell P15.00, or 3.23 percent, to P450.00 apiece.