BdO, Smart forge tie-up

Wireless services provider Smart Communications Inc. (Smart) teamed up recently with Banco de Oro Universal Bank (BdO) as the new principal partner for Smart Money MasterCard electronic, the award-winning mobile commerce product.

BdO’s operational integration and acquisition of 1st e-Bank, the former primary issuer of Smart Money and holder of MasterCard Electronic license, paved the way for the strategic alliance. With this partnership, Smart Money cardholders can now do ATM withdrawal and balance inquiry in all BdO and ExpressNet ATMs.

BdO is a member of major bank consortium ExpressNet that includes Ayala-owned Bank of the Philippine Islands (BPI), BPI Family Bank, Hong Kong and Shanghai Bank Corp. (HSBC), and the Land Bank of the Philippines.

The tie-up effectively gives Smart Money cardholders access to almost 1,800 ExpressNet ATMs nationwide, which include ATMs in prime shopping spots such as the Ayala and ShoeMart (SM) malls, as of end-August 2003.

It is also widely accepted as a purchase card in 20,000 MasterCard Electronic merchants nationwide such as groceries, drugstores, department stores, gas stations, including SM malls point-of-sales (POS) terminals, giving shoppers a more convenient way of paying for their purchases.

Moreover, Smart Money may also be used in the MegaLink bank ATM network with over 1,400 ATM locations nationwide.

SMART president and chief executive officer Napoleon L. Nazareno said the partnership will strategically broaden mobile commerce access to Smart’s subscribers. Nazareno believes that mobile commerce and electronic services in the Philippines "has a bright future."

"We have been constantly churning out innovative mobile commerce services such as mobile banking, Smart Money, and more recently ˆ the convenient electronic sachet marketing Smart Buddy Load. These provide more and improved services for our customers."

BdO president Nestor V. Tan said that the development of electronic commerce will depend largely on how telecommunications companies and financial institutions take advantage of the combined power of banking and telecom technology."

Banco de Oro has 168 branches nationwide complemented by a network of 230 ATMs. It was cited by Asiamoney Magazine, an affiliate of Euromoney, as Best Newly Listed Company in the Philippines for 2002.

Smart is the Philippines’ leading wireless services provider with over 11 million subscribers as of August this year. It has been continuously innovating on wireless technology, having introduced world-first services, in the fields of mobile commerce and mobile value-added services. Smart is a wholly owned subsidiary of the largest Philippine telecommunications carrier, the Philippine Long Distance Company (PLDT).