“Wireless wallet service” from Smart and MoneyGram
Posted on December 23rd, 2009
MoneyGram International and Smart Communications, Inc. tied up to provide families of overseas Filipino workers (OFWs) the convenience of wireless “wallet” service. OFWs may now send their remittances to their families in the Philippines faster through the facility which is likened to a “cross border wallet service.”
Napoleon L. Nazareno, Smart President and Chief Executive Officer said, “The collaboration between MoneyGram and Smart will enable Filipinos abroad to send remittances directly to their loved ones’ Smart mobile phones in a matter of minutes. This initiative reinforces our commitment to provide overseas Filipinos with more accessible, affordable and secure options to send cash to the Philippines.”
This tie-up between Smart and MoneyGram in providing a faster alternative to OFW remittances will be pilot-tested in some locations in San Diego, California and in Hong Kong. The procedure will use real time text notifications which will be sent to the receiver of the remittance in the Philippines.
Smart users who are subscribers to Smart Money can store the remittance sent through the MoneyGram service in their mobile phones. They can also use the money to pay bills conveniently or withdraw them at Smart Money Centers.
“The Philippines is a major global remittance market and we’re pleased to offer yet another convenient choice for Filipinos working abroad to send money to their friends and family back home,” said John Hempsey, the executive vice president of MoneyGram for Europe, Middle East, Africa and Asia Pacific. He added, “Mobile technology will play a critical role in the remittance market and expand product offerings and generate new revenue streams.”
Smart is a subsidiary of the Philippine Long Distance Telephone Co., the largest telecommunications company in the Philippines.
