BICS is a prominent international provider of voice, messaging, roaming, connectivity and mobile financial services.
The partnership between Smart and BICS will enable people living in Belgium, Qatar and the UK to remit money instantly and cost effectively to the mobile phones of relatives and friends who are Smart Money users. The sending markets will gradually be expanded to include other Middle Eastern countries and the US.
The remittance transactions to Smart Money are facilitated through HomeSend, a global remittance hub built under a strategic partnership agreement between BICS and eServGlobal.
The remittance hub allows the transfer of any type of funds, such as airtime and cash, and from various fund sources, such as eWallets, bank accounts, credit cards and cash.
BICS senior vice president for mobile financial services Frederic Schepens said that the partnership helps address the needs of mobile phone users across a broad spectrum, including those who travel frequently, to those who do not have a formal bank account.
“This partnership now makes it possible for the HomeSend community to send money to Smart’s mobile subscriber base in the Philippines, and reinforces our goal to enable a truly global mobile remittance ecosystem,” Schepens added.
“Smart Money has been designed to provide people with an affordable, relevant and accessible way of sending money to their loved ones,” said Tricia V. Dizon, Smart Financial Services head. “We are excited to combine the simplicity and ubiquity promised by our Smart Money platform with the wide network of BICS, to serve and benefit a wider market around the world.”
BDO Unibank Inc. (BDO) is the issuer of Smart Money in the Philippines.
Smart is the Philippines’ leading wireless services provider with 46.6 million subscribers on its GSM network as of end-March 2011. It introduced world-first wireless data services, including mobile commerce services such as Smart Money, Smart Load and Smart Padala. Smart also offers 3G and HSPA services.
Its Smart Link service provides communications to the global maritime industry. Smart Broadband Inc., a wholly-owned subsidiary, offers a wireless broadband service, Smart BRO, with over 1.4 million subscribers as of end-March 2011. Smart is a wholly-owned subsidiary of the Philippine Long Distance Telephone Co.
