Smart presents mobile money transfer

MANILA, Philippines - Smart Communications Inc. (Smart) has trained 16 senior officers and savings clerks of the Rural Bank of Mabitac on mobile money transfer using the Smart Money platform.

The training program was held in partnership with the Rural Bankers Association of the Philippines-Microentrepreneurs Access for Banking Services (RBAP-MABS).

The training team provided the bank with an orientation on the Smart Money Product, focusing on its unique features such as Smart Money center operations (Money-In Money-out) and Instant Cash Card activation.

The participants were also oriented on linking the instant/personalized cash card to a Smart-powered mobile phone in accessing the wide array of mobile phone services such as money transfers, bills payments, purchases via the POS (point-of-sale service), reloading of mobile phone airtime, ATM withdrawals (with domestic and international access) using the Smart Money Card, and other benefits.

Aside from the training, the team also equipped the bank with necessary tools in preparation for its full implementation of Smart Money In and Money Out across all RB Mabitac branches in the provinces of Laguna and Quezon.

This new initiative aims to tap RB Mabitac’s existing client base of over 20,000 clients (both depositors and borrowers). It is also expected to serve as an added marketing tool for potential clients in all strategic locations of the bank.

Early in October 2009, RBAP through its MABS program collaborated with Smart Communications to pilot test the Smart Money Services – mobile money transfer services with RB Mabitac. Three RB Mabitac branches (Cabuyao branch, Infanta branch and the head office) participated in the pilot test limited to 30 clients and to selected bank employees. After completing the product test runs and tailor fitting the product to the bank’s operations, RB Mabitac geared-up to roll-out this technology to all their branches. This will complement and benefit all existing and new clients of the bank who are also Smart subscribers.

Smart Communications is one of the leading telecommunications company in the Philippines with over 45 million subscribers and eight million Smart Money Subscribers nationwide. In 2009, RBAP-MABS worked with Smart to design a mobile money transfer service for Smart subscribers of rural banks.