Friendster Money Transfer via GCash

Friendster has just introduced an Online Money Transfer feature into their social networking site. Powered by Globe GCash, friends will be able to send and receive money with a single click from their Friendster Profile.

Friendster users will still need to be a Globe or TM user in order to process money remittances on Friendster.

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GXI and Friendster introduced the online money transfer feature to provide a more convenient and reliable way of transferring GCash within Friendster. For just a minimal amount of P2.50 per transaction, a Friendster member can already send GCash to anyone in his friends list by simply viewing the profile of the intended recipient and clicking the GCash button after specifying the amount involved.

To ensure the security and authenticity of the funds transfer, a confirmation request is forwarded to the sender’s Globe or TM SIM then GCash is transferred as simple as a text message. Money remittances will still be charged the normal Php2.50 GCash transaction fee.

This move could help Friendster position itself as a micro-ecommerce platform, the same way Multiply has evolved among Filipino users.

Abe is the founder and Editor-in-Chief of YugaTech. You Can follow him on Twitter @abeolandres.

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