PLDT launches new remittance service

PLDT Global Corp. has introduced a new service that allows Filipinos living in Hong Kong to remit money directly to their beneficiaries in the Philippines cheaper by as much as 65 percent, through their mobile phones via text messaging.

This innovative remittance service, done through Smart Communication’s SMS or text messaging-based remittance service called Smart Padala, is now available on the 1528 Smart service being offered by PLDT (HK) Ltd. Instead of paying HK$15 to HK$35 (P115 to P270) as remittance fee, Filipinos abroad can send their money for only HK$12 (around P92). They can send as much as P50,000 per day at P10,000 per text/send.

PLDT Global serves as the international retail sales and marketing arm of the PLDT Group, providing telecommunications services to Filipinos overseas. It currently has mobile virtual network operator (MVNO) services in partnership with local mobile operators in two countries, branded "1528 Smart" in Hong Kong and "Smart Pinoy" in Singapore.

Through the MVNO, Smart is able to offer its services abroad using the network of the foreign operator. As a result, PLDT is the eight and only non-Hong Kong-based telco operating in the island.

There are currently some 50,000 subscribers (all prepaid subscribers) of 1528 Smart who can now avail of Smart Padala. Because of its local sales and marketing team, PLDT (HK) hopes to capture more of the 120,000 OFWs in Hong Kong. There are another 30,000 Filipino professionals in Hong Kong. PLDT hopes to increase the 1528 Smart subscriber base to 55,000 by yearend.

PLDT Global president Al Panlilio said that aside from the convenience, this remittance service also helps OFWs budget their finances. The affordability of sending funds through text enables the Hong Kong subscribers to remit more frequently, by sending smaller amounts, he noted.

"Remittances now emerge as the single largest source of external funding, more than capital market flows, more than official development assistance and more than foreign investment. Technology will be one of the main drivers of the remittance market in the future as competition escalates and remitters seek convenience, speed, affordability and access," he added.

For his part, PLDT HK general manager Viboy Genuino pointed out that compared to traditional remittance services, Smart Padala via the 1528 Smart service is the superior choice for Filipinos in Hongkong. "Our subscribers can now send funds to the Smart Money Account of their beneficiaries in the Philippines through text, anytime, anywhere," he said. Filipinos in Hong Kong can likewise send airtime load directly to their beneficiaries in the Philippines through texts.

1528 Smart – a partnership between PLDT Global and leading Hong Kong mobile carrier HK CSL’s a mobile phone service that gives subscribers more affordable call and text rates, and other innovative services being offered by Smart such as Pasaload and eLoad.

Smart Padala enables Smart subscribers to transfer funds from one Smart Money account to another. Smart Money is an electronic cash wallet service that enables Smart subscribers to conduct electronic cash transactions. Those with Smart Money cards can withdraw funds from ATM machines, Smart Wireless Centers and authorized Smart encashment centers nationwide.

With the introduction of the Smart Padala service on the 1528 Smart SIM, OFWs in Hong Kong may now send funds or airtime load to Smart subscribers in the Philippines through text at only HK$1 per text from their own Smart Money accounts.

To be able to send funds or airtime load to Smart subscribers in the Philippines, the 1528 Smart subscriber in Hong Kong must simply reload his Smart Money account from any of the reloading stations operated by Hong Kong remittance companies for a minimal fee of HK$12 (around P92). They can send as much as P50,000 per day at P10,000 per text/send for remittances.

"Using Smart Padala through 1528 Smart results to substantial savings for OFWs in Hong Kong. We are indeed empowering them with this new offering," according to Gigi Tan, head business development, remittance.