Global mobile money seen to reach $202 billion in 2012

December 15, 2009 By cbalingit Leave a Comment

Philippine Star – The magnitude of global mobile banking is forecast to hit $202 billion by 2012, and 60 percent of that will emanate from the Asia Pacific region.

Foreign consulting firm Edgar Dunn & Co. added that the Philippines, China, and India would be leading the way in the Asia Pacific region.

Lance Blockely, managing director of Edgar Dunn & Co. said that the Philippines is the global leader in mobile money transfer (MMT) and “the next few years will be a climate of explosive growth for mobile money transfers.”

By 2012, 364 million low-income, un-banked people could use mobile financial services. Likewise, the number of people without a bank account but with a mobile phone is estimated to grow from one to 1.7 billion.

This were some of the conclusion arrived at during the recently-concluded Mobile Money Transfer (MMT) Asia Pacific (APAC) conference in Manila, that brought in experts, providers and representatives of MMT practitioners from all over the world. Read the rest of the article on Philippine Star online.

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USAID-MABS and MicroSave hold M-Banking Dialogue

December 11, 2009 By cbalingit Leave a Comment

M-Banking Dialogue

After the Mobile Money Transfer Asia-PacificConference (MMT-APAC) held on December 7-9 held in Manila, USAID-MABS and MicroSave conducted an M-Banking dialogue at the EDSA Shangri-La Hotel in Manila on December 9 and 10. Selected microfinance practioners, networks including MicroSave, MABS, Mercy Corps, MICRA and ACCION, donor-supported efforts including USAID and IFC, various third party providers including EKO from India, and Mobile Money Issuers including Safaricom’s M-PESA and Globe X-Change Inc (GXI/GCASH) participated in the dialogue. Read the rest of this entry »

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Globe dealership turns into virtual cash network

December 11, 2009 By cbalingit Leave a Comment

Philippine Daily Inquirer — WANT TO MAKE deposits into your bank account without actually dealing with a bank? How about paying bills, or cashing in the money your mother, father, brother or sister sent your from abroad by simply taking a few steps out of your front door?

These things, which used to be impossible unless you lived right in the center of the Makati Central Business District, could soon be the norm for the rest of the populace.

This is the idea behind Globe Telecom Inc.’s plan to create the country’s largest financial services network with the help of its 15,000 vendors.

Globe will turn its sub-dealers, or vendors who distribute products like prepaid credits or SIM cards to be sold to consumers, into cash-in and cash-out points for the company’s electronic money service GCash, creating a network of informal automated teller machines (ATMs) throughout the archipelago. Read the rest of the article on Inquirer.net.

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MABS hosts Mobile Money Transfer Asia-Pacific Conference

December 10, 2009 By cbalingit Leave a Comment

Owing to its exemplary performance and remarkable success as mobile commerce pioneer and leader, the Philippines hosted the first Mobile Money Transfer Asia Pacific Conference (MMT-APAC) On December 7-9, 2009 put on by Clarion Events. Held at the EDSA Shangri-La Hotel in Manila, the conference gathered some of the most important mobile money industry leaders, mobile network operators, financial institutions and regulators from all over the world. Following a tradition of successful MMT conferences in different parts of the world, the MMT-APAC hosted 166 participants and featured presentations from respected industry leaders.

Menekse Gencer, Aiaze Mitha and Gregg Marshall

During the pre-conference workshop held on December 7, mPay Connect Inc. Director Menekse Gencer provided and introduction of mobile money transfer, while Amarante Consulting Director and former M-Paisa Product Director Aiaze Mitha presented steps, tips and guidelines on how to talk with regulators regarding MMT issues, regulations and operations. Meanwhile, Utiba Senior Vice President Gregg Marshall gave a presentation that oriented the participants on approaching payment cultures in different countries based on Utiba’s experiences. Read the rest of the article.

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BSP receptive to retailers as mobile money conduits

December 8, 2009 By cbalingit Leave a Comment

Business World — The Bangko Sentral ng Pilipinas (BSP) is open to allowing third parties such as retail outlets to act as mobile money transfer agents so Filipinos without immediate access to banks could still have access to simple financial services.

“We are studying this,” BSP Gov. Amando M. Tetangco Jr. told reporters at the sidelines of the Mobile Money Transfer Conference and Expo yesterday.

During his keynote speech, Mr. Tetangco said the central bank appreciates the need to accredit third parties such as pharmacies and convenience stores as intermediaries for mobile money transfer but it needs to make sure that the public stays protected.

“While the business case of a vast network of authorized agents is clear, sufficient regulations must be in place to ascertain these agents comply with operational standards as well as good governance and consumer protection practices.”

He said only banks and quasi-banks have been allowed by the central bank to engage in mobile money transfer, which use mobile phones for banking transactions such as deposits and withdrawals. Read the rest of the article on Business World online.

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GCASH, RBAP, MABS: 5-year solid partnership surpasses P5B mark

December 4, 2009 By cbalingit Leave a Comment

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