PLDT ALPHA is the trusted expert end-to-end ICT partner of the top enterprise market, delivering innovative ICT solutions and a premium grade customer experience.
PLDT HOME believes that the strongest connections are at home. By providing a compelling suite of multimedia services and solutions, Filipino families stay connected and can easily access quality entertainment at the comfort of their homes.
PLDT SME Nation draws inspiration from the unique Filipino entrepreneurial spirit, formed to boost and empower the small-, and medium-sized businesses that form the essential backbone of the Philippine economy.
Enjoy limitless possibilities with international services only from PLDT Global.
We are committed to be the leading offshore Filipino ICT Company.
Smart Communications is the Philippines' leading wireless services provider. Enjoy
the widest range of prepaid, postpaid, and mobile broadband services only from Smart!
Sun offers a wide range of service innovations for mobile telephony from
voice, messaging and international roaming services, to wireless broadband and value-added
ePLDT is the premier Information and Communications Technology (ICT) company in the country, delivering world-class solutions to both large enterprises and the SMEs across various industries.
Home → PLDT News Center → News
MANILA, Philippines, 6th January 2015 –– Philippine Long Distance Telephone Company (“PLDT”, PSE: TEL, NYSE: PHI), the leading telecoms operator in the Philippines, and Rocket Internet AG (“Rocket”, ISIN DE000A12UKK6, RKET), the leading Internet platform outside the US & China, today announced a definitive agreement to establish a global Joint Venture for payment services with a focus on emerging markets, with each partner holding a 50 percent stake.
This project, envisaged as a global partnership that was kicked off by the pre-IPO investment of PLDT in Rocket in 2014, builds on the complementary strengths of Rocket and PLDT, to drive the massive adoption of online and mobile payment solutions in emerging markets.
PLDT will contribute the intellectual property, platforms and business operations of its market leading mobile-first payment platform Smart e-Money Inc. (“SMI”), a pioneer in mobile banking and mobile wallet services which has handled transactions valued at approximately EUR 3.4 billion in 2013. With over 5 million active customers and 300,000 trade accounts, SMI owns and manages the Philippines’ biggest “branchless banking” network, certified at the highest global security and governance standards as a financial service platform. Rocket will contribute its participations in Paymill Holding GmbH (“Paymill”) and Payleven Holding GmbH (“Payleven”), two of the leading payment platforms for high growth, small-and-medium-sized e-commerce businesses across Europe.
The combination of PLDT and Rocket assets creates a leader in mobile payments expertise uniquely positioned to capture the global potential of mobile-first payment services especially in emerging markets
Subject to approval by the relevant authorities, the transaction is planned to close in Q1 2015.
Napoleon L. Nazareno, President and CEO of PLDT, said:
”PLDT continues to build on its strategy to become a driving force in the digital economy, and with Rocket, we have a partner who understands the DNA of the global Internet market more than any other company. We look forward to continuing the long-term success story of Smart Money and optimizing the synergies between e-commerce and innovative mobile-first payment solutions."
Oliver Samwer, Founder and CEO of Rocket Internet, added:
“This Joint Venture is the next logical step of our valuable partnership with PLDT and we are pleased that our shared vision for the growth opportunities of the global payment market has been implemented in such an expedited fashion. Rocket’s network of companies combined with PLDT’s 14 years of experience in the mobile payment industry will allow us to deliver world-class innovations in mobile money and micro-payments around the world.”
PLDT.com News Center contains company news and featured content from the PLDT Group.
For media inquiries, email us at email@example.com.
Follow us on social media: