Smart activates 10,000 outlets for mobile banking

MANILA, Philippines - Smart Communications has partnered with Hapinoy outlets to facilitate sending and receiving cash using Smart Money.

Hapinoy is the largest sari-sari store chain with 10,000 outlets nationwide while Smart is one of the leading mobile communications company and mobile money provider. Recently, the two entities signed an agreement making Hapinoy a Smart Money Center.

Starting next month, select Hapinoy outlet will enable people to load funds into, or withdraw cash from their Smart Money electronic wallets without having to travel long distances to banks or remittance centers. They may also easily load their SMART and Talk ‘N Text mobile phones at all Hapinoy stores.

SMART Chief Wireless advisor Orlando B. Vea said that the partnership should led to entrepreneurial opportunities and subsequently economic growth.

“By becoming Smart Money Centers, Hapinoy Stores will allow us to give more Filipinos additional ways to improve their livelihood, and provide easier access to SMART’s cutting-edge products and services, including our award-winning Smart Money platform,” Vea added.

This new collaboration is an enhancement of the partnership sealed in 2007 with Microventures, Inc. (MVI), the social business enterprise behind Hapinoy. MVI initiated the Hapinoy project in an effort to empower sari-sari stores by linking them directly to partner product manufacturers and Microfinance Institution (MFI) partners such as CARD.

As a result, Hapinoy store owners are able to get higher margins on their sold goods, to save via new efficiency measures, to enjoy merchandising support and product testing from Talk ‘N Text, and to have additional sources of income through the electronic financial services offered by SMART.

Smart Money is the world’s first reloadable electronic wallet linked to a mobile phone. Through Smart Money, account holders may send and receive cash using their mobile phones, all at the speed of text message.

In 2008, SMART was the only Southeast Asian company to receive the World Business and Development Award from the International Chamber of Commerce, Prince of Whales International Business Leaders Forum, and UN Development Programme.