Globe, rural banks to distribute cash for Philippine CCT

Philippine Information Agency – Balabac, Palawan (1 December) — Conditional cash transfers (CCT) for the 4Ps beneficiaries is now made more accessible, easier, and hassle-free with the new innovative solution utilizing the GCash, rural banks and other money remittances channels.

Land Bank used to distribute these cash grants, which are meant to provide for the education and health needs of the children and pregnant mother in a poor family, in exchange for their compliance to a list of program conditionalities.

However, the beneficiaries in the remote villages are burdened by the transportation costs in claiming their monthly CCTs in the Land Bank. There are only 3 branches of the bank in Palawan and these are located in the poblacion areas.

Innovative Solutions

GCash Remit is one of the solutions to address this problem. With this new cash release scheme, beneficiaries are saved from spending on fares, some of which are even bigger than the cash grants that they are set to receive.

“Secretary (Dinky) Soliman really wants to bring the money closer to the people,” says Director Honorita Bayudan, the new National Program Manager of 4Ps, during the evaluation meeting for the pilot GCash Remit. Bringing the money closer to the people means utilizing “merchants in the market” who can do the job, even if it will entail additional administrative cost for the Department.

Read more

Mobile banking takes the lead

BY JIMMY CALAPATI

Malaya – “THE Philippines is among the most advanced mobile money markets in the world”

This was the statement of the GSM Association (GSMA), an association of 800 mobile operators and more than 200 related companies all over the world, in its 2010 annual report entitled “The Mobile Money for the Unbanked Programme”.

In the report, GSMA said that three factors have contributed to the success of mobile money in the Philippines: the characteristics of the Philippines market; actions taken by the Bangko Sentral ng Pilipinas (BSP); and, actions taken by the country’s top telecommunications company–Smart and Globe.

“Not only the extent, but also the way in which Filipinos have adopted mobile have been key enablers of mobile money success. The country is the texting capital of the world and Filipino mobile users are highly SMS literate, which made the proposition of conducting financial transactions on a handset somewhat more intuitive,” GSMA said.

Read more>>

RBAP launches ATM FaceCard

Rural banks further empower their mobile phone banking clients with a new and exciting ATM Card attached to the GCash wallet, the Rural Bank FaceCard ATM Card. Made possible with the joint support of RBAP, its USAID-supported MABS program, and Globe’s G-Xchange Inc. (GXI), the customizable Rural Bank FaceCard ATM Card allows mobile phone banking clients to withdraw money not just from Globe’s over 18,000 cash-in/cash-out (CICO) outlets, but also from more than 9,000 ATMs or automated teller machines nationwide. It also doubles as a valid ID card containing the client’s photo and signature. Powered by GXI, this new ATM card allows clients to choose among pre-designed themes or upload an image of their own design.

Early this year, Globe launched a major expansion of its GCash Cash-In and Cash-Out (CICO) network. Adding all ATMs nationwide, clients now gain access to over 27,000 GCash cash-out points.  “We have always worked with the rural banks to utilize the power of GCASH to deliver various services for remote payments or money transfer purposes, attuned to the needs of the under-banked customer segments they serve. In-line with the significant growth of the rural banking industry over the past five years, we have now designed a dual function card providing ATM access that also serves as a valid ID appropriate for their customers based in key cities. This is our way of strengthening the link between the under-banked and banked markets serviced by our rural bank partners with the expanded capabilities of our GCash platform,” GXI President Rizza Maniego-Eala said.

READ MORE

Making Microfinance Mobile

CGAP - Mobile banking services are beginning to revolutionize the way people in developing countries manage their money, creating opportunities for microfinance institutions to substantially improve their services. Although widespread m-banking services are currently only present in a few countries, a new CGAP Focus Note, Microfinance and Mobile Banking: The Story So Far shows how microfinance institutions (MFIs) can link into existing m-banking services to make it more convenient and cost-effective for customers to borrow and repay loans. Still, for those MFIs located in countries without an existing m-banking service, most will find it too expensive, time-consuming, and complex to develop a service on their own.

The study, which examines the intersection of mobile banking and microfinance in countries both with and without existing m-banking services (Bolivia, Cambodia, Kenya, Malawi, Mongolia, Pakistan, Tanzania, and the Philippines), found that giving customers the flexibility to make loan payments and deposits using their mobile phones typically shortens group meetings and decreases cases of theft and fraud.

Read the rest of this entry »

RBAP-MABS Partner with Microfinance Opportunities and The MasterCard Foundation to expand mobile phone banking services

The Rural Bankers Association of the Philippines (RBAP) through its USAID-supported Microenterprise Access to Banking Services (MABS) Program will now receive support from Microfinance Opportunities (MFO) and The MasterCard Foundation to assist the expansion of mobile phone banking services via increased financial education for customers and clients of rural banks.

Rural Bank Mobile Phone Banking Services Set to Expand in the Philippines

There are already 900 accredited rural bank branches and sub-offices offering mobile phone banking services via the GCASH platform, benefiting 122,000 rural bank clients. More than PhP six billion (US $130 million) in mobile phone banking transactions have been processed by these rural banks and the volume of transactions is increasing.

Through this partnership, RBAP-MABS will further accelerate this growth by renewing the educational campaign for its mobile phone banking initiative. RBAP-MABS will leverage its partnerships with rural banks, Globe and its gateway SMS service provider to develop an improved m-banking toolkit for rural banks officers and staff, their merchant partners and their clients. This toolkit will include instructional videos, web-based distance learning tools and mobile banking guides for improving customer education. RBAP-MABS intends for these materials to be publicly available online, transferrable to and among mobile phones, and deliverable through Internet applications and channels.

Read the rest of this entry »

Globe dealership turns into virtual cash network

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.

Convenient Banking via SMS: Mobile Phone Banking Services (MBPS) give rural banks a big boost

by Bubbles Salvador

Imagine a remote area where peopleactually have to travel far to get to a bank. As banks continuously strive to improve services to their clients, Globe has come up with hassle-free ways of doing bank transactions with Globe’s Mobile Phone Banking Services (MPBS), making banking transactions via GCASH possible. [Read more...]