Smart’s Mobile Banking Helping Provide Mobile Commerce in Remote Areas of the Philippines

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MFISmart | November 18, 2010 | likes, 0 dislikes

Smart Communications, Inc. has provided mobile commerce services to close to …

MFISmart | November 18, 2010 | likes, 0 dislikes

Smart Communications, Inc. has provided mobile commerce services to close to 50 remote rural communities under its Island Activations Program (IAP)—an initiative which aims to provide mobile based financial services to remote communities that have limited or no access to banking services.

Working with SEEDFINANCE, SMART set up Smart Money Centers in remote, underserved Philippine communities, to spur entrepreneurial opportunities, economic growth and drive financial inclusion. These Smart Money Centers allowed island-based MFIs to perform money transfers using Smart Money. Aside from mobile money transfers, the IAP enabled island residents to perform e-load purchases, bill and utility payments and other micro purchases, all via mobile.

The IAP is backed by the Mobile Money for the Unbanked Fund (MMU) initiated by GSM Association, the global trade association of mobile operators worldwide, and administered by GSMA Development Fund.

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