MICROFINANCE International Corp. (MFIC) has signed a partnership with Smart Communications, Inc. (Smart) to expand its delivery of remittances to the country.
Smart will pay out the remittances sent through Arias, MFIC’s money transfer solution, from financial service providers in the US, Japan and Europe.
Remittances to a Smart Money account may be received through the various encashment channels of Smart Money—over 100 Smart Wireless Centers, over 7,000 Philippine ATMs,
and thousands of Smart Money Centers and agents all over the Philippines.
Through the partnership, MFIC will develop mobile international payment infrastructures in the major remittance corridors, making money transfer more convenient for remittance senders and recipients.
“We are very pleased to partner with Smart, a global leader in mobile payments. We are confident that our transparent and competitive remittance services will bring tremendous benefits to Filipino communities globally,” said Atsumasa Tochisako,
president and chief executive officer (CEO) of MFIC.
“Arias has advantage in its adaptability to various interfaces, making it easy for us to partner with a company like Smart, whose role is increasingly important in the payment sector.
It is our commitment to expand the delivery of affordable and secure money transfer services in a wider geographic area, and mobile phone will play the key role to make it happen.”
“Our partnership with MFIC underscores our strategy to collaborate with international and domestic partners to roll out our mobile commerce solutions to a wider customer base at home and overseas,” said Napoleon L. Nazareno, president and CEO of Smart.
“Together with MFIC, we renew our commitment to provide affordable, relevant and accessible remittance services to benefit our overseas Filipinos and their loved ones back home,” he said.
Funds received in the beneficiary’s Smart Money account will be available immediately for encash-ment or other transactions like airtime reloading, bills payment, and merchant purchases.
The company said the partnership with Smart will complement MFIC’s remittance initiatives in different regions of the world to make mobile money transfers available to more people. (PR)