Smart Mobile Remittance through WU
As I browse the web to search for some latest technology news I came across to the website of the leading wireless services provider Smart Communications, Inc. (SMART) and read the news about their partnership with Western Union Company (WU) in term of remittance service to the Filipino people. They come up with the agreement that they will jointly develop a Mobile Money Transfer service in the country. This kind of service will benefit most of the Filipinos who are using this kind of service. They said that this will make low-denomination, high-frequency remittances more affordable to the country’s 8 million Overseas Filipino Workers (OFWs). The news is estated below:
“This agreement is in line with Smart’s thrust to continuously develop low-cost and convenient mobile remittance channels and communications services for overseas Filipino workers,” said Napoleon Nazareno, Smart president and CEO. “We recognize the significant role they play in not only contributing to the country’s economy, but also in making sure their families’ financial and communications needs are met at the time they need them.”
Smart, which ended 2007 with more than 30 million subscribers, already has an established mobile financial service platform linking local bank accounts to mobile handsets, providing significant convenience for banked consumers. At the end of 2007, more than 7 million Smart subscribers were in the Smart Money system, close to 2 million of whom are cardholders. The company has agreements with five Philippine commercial banks and links to over 7,000 ATMs nationwide, more than 100 Smart Wireless Centers and thousands of third-party Smart Money fulfillment partners.
Read full article here: http://smart.com.ph/Corporate/Newsroom/Westernunion.htm