The Philippine firm Globe Telecom recently announced G-Cash service for its Globe and Touch Mobile subscribers. The 'electronic wallet' feature allows users to send and receive cash and make payments, including bill payments, donations, and online purchases, via texting.

Globe charges a flat fee of Php10.00 for any transaction below Php1,000. For transactions above Php1,000 the fee is 1% of the amount.

To load cash into their phones, users need only visit an Authorized G-Cash outlet that accepts Cash-in transactions; likewise, to withdraw cash, they may visit a Globe Business Center or any G-Cash outlet which is authorized to do Cash-out. Maximum cash-in and cash-out at a Globe Business Center is Php10,000.

Globe's G-Cash service both facilitates and capitalizes on remittances of overseas workers to families living in the Philippines, set to hit $9 billion in 2005, trailing only India and Mexico in total value.