03 September 2015

Western Union pilots mobile remittance systems in the Philippines

30 January 2008  |  10291 views  |  0 mobile keypad

Money transfer operator Western Union is teaming with two telcos in the Philippines - Globe Telecom and Smart Communications - to develop and pilot mobile international remittance services.

The news services - which are part of a pilot programme from Western Union and the international trade group of mobile phone operators GSMA - will enable people overseas to send remittances to recipients in the Philippines.

Western Union cites research prepared by the Commission on Filipinos Overseas that suggests 44% of households in the Philippines have a relative working abroad.

Commenting on the initiative Ferdinand Dela Cruz, head, consumer wireless business group, Globe Telecom, says: "This relationship with Western Union will increase the accessibility and lower the cost of micro-remittances, which will greatly benefit Filipino overseas workers and their families."

Dela Cruz says the agreement will see Globe Telecom's SMS text-based GCASH service - which includes an electronic wallet feature that lets users send and receive cash and make payments - to a global network of send and receive locations through Western Union."

Meanwhile, Smart already has an established mobile financial service platform linking local bank accounts to mobile handsets. The telco says over seven million of its 30 million subscribers use its Smart Money system, with nearly two million of these cardholders.

Commenting on the Western Union alliance, Napoleon Nazareno, Smart president and CEO, says: "This agreement is in line with Smart's thrust to continuously develop convenient mobile remittance channels and communications services for overseas Filipino workers."

Western Union has already partnered Indian telco Bharti Airtel on a similar mobile remittance system as part of its agreement with the GSMA.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

09 January, 2008
04 December, 2007
30 November, 2007
19 October, 2007
18 July, 2007
12 February, 2007
26 January, 2006

Related company news


Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
7995 views comments | 37 tweets | 15 linkedin
SunGard system glitch causes havoc for BNY...
7415 views comments | 14 tweets | 12 linkedin
Payments UK sets out vision for 'world cla...
6582 views comments | 17 tweets | 10 linkedin
Swedish mPOS firm iZettle raises EUR60m fo...
5989 views comments | 12 tweets | 8 linkedin
HSBC glitch leaves thousands of customers...
5967 views comments | 13 tweets | 7 linkedin

Featured job

Basic £90-110K OTE circa £200K NO CEILING
London based with substantial travel in Scandinavia

Find your next job