Telcos to lean more on e-wallets for profit

The country’s biggest telcos may have to rely on their e-wallet units to cover revenue losses from mobile decline, but they have to address the impact of online gambling delinking.

- By ELIJAH FELICE ROSALES

Ina Market Talks episode by COL Financial Group Inc., telco analyst Paolo Manansala said connectivity giants Globe Telecom Inc. and PLDT Inc. would have to depend on their e-wallets for profit growth.

As it stands, both Globe and PLDT are seeing revenue slowdown from their mobile segments, as they are finding little room for growth in a saturated market.

Luckily for them, Manansala said these telcos have e-wallets dominating in financial technology. Globe is receiving bigger equity from GCash parent Globe Fintech Innovations Inc. (Mynt), while PLDT is starting to make profit from the Maya Group.