FILIPINOS will soon enjoy the convenience of sending and receiving cash to and from their loved ones using Smart Money at Hapinoy outlets.
In a recent agreement between the country's leading wireless services provider and the Philippines' first and only sari-sari store chain, Hapinoy storesÿwill officially become accredited Smart Money Centers.
Today, there are close to 10,000 Hapinoy Stores comprised of 75 community stores and thousands of retail outlets strategically located in towns and baranggays of South Luzon, Central Luzon, Rizal, Mindoro and Bicol.
Beginning September 2010, selected Hapinoy stores will enable townfolk 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.
"We are happy to expand our current partnership with Hapinoy, to spur entrepreneurial opportunities and economic growth for members of the Base of the Pyramid (BOP)," said Orlando B. Vea, Smart chief wireless advisor. "By becoming Smart Money Centers, Hapinoy Stores will allow us to give more Filipinos additional ways to improve their livelihood, while at the same time providing easier access to Smart's cutting-edge products and services, including our award-winning Smart Money platform."
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 cellphones, all at the speed of text message.