2 networks, one mobile currency needed for both Smart and Globe
By EMMIE V. ABADILLA
January 22, 2011, 12:58am
MANILA, Philippines – The country’s telecom duopoly, Smart Communications Inc. and Globe Telecom Inc. need to unify their mobile currencies, Smart Money and GCash, in the future.
“It’s heresy but we need to work together and interconnect. We can’t have two mobile currencies circulating,” Globe President Ernest L. Cu told the Mobile Money Transfer Asia Pacific conference at the Hyatt Regency Hotel, Manila.
While Smart and Globe can maintain two different networks, they should have just one mobile currency, he stressed. “We are not talking about electronic load anymore, we’re talking of cash. It will be another challenge because we are competitors.”
However, at this point, Smart and Globe have not started any discussions on the matter. The Globe President says he will initiate the unification of the mobile currencies ‘when I hear a clamor for it.’
Over the next half decade, more people in Asia expect that the payment channel for mobile will become more important than bank branches. Most Asians think that mobile payments will grow dramatically along with the use of more smart phones.
Smart alone processes P13 B worth of transactions per month for its mobile financial services platform, according to co-founder and Chief Wireless Advisor Orlando B. Vea.
“We’ve barely scratched the surface in terms of mobile money. We are going global on the strength of our partnership with Mastercard and getting into cross industry initiatives.”
--
---------------------------------------------
CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
Landline: +63495010127 Cellphone: +639152919580
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com http://phildevfinance.wordpress.com
CONSULTING - http://www.carlosani.com
My Clippings - http://www.myclipps.posterous.com
------------------------------------------
---------------------------------------------
CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
Landline: +63495010127 Cellphone: +639152919580
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com http://phildevfinance.wordpress.com
CONSULTING - http://www.carlosani.com
My Clippings - http://www.myclipps.posterous.com
------------------------------------------
--
---------------------------------------------
CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
Landline: +63495010127 Cellphone: +639152919580
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com http://phildevfinance.wordpress.com
CONSULTING - http://www.carlosani.com
My Clippings - http://www.myclipps.posterous.com
------------------------------------------
---------------------------------------------
CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
Landline: +63495010127 Cellphone: +639152919580
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com http://phildevfinance.wordpress.com
CONSULTING - http://www.carlosani.com
My Clippings - http://www.myclipps.posterous.com
------------------------------------------
-- --------------------------------------------- CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net Email: carlosani@seedfinance.net Landline Phones: +63495010127 and +63495762924 Cellphone: +639152919580 DEVJOBS - http://www.devjobsmail.com PHILDEVFINANCE - http://phildevfinance.posterous.com CONSULTING - http://www.carlosani.com My News Clippings - http://www.myclipps.posterous.com Family website: http://www.anifamily.net ------------------------------------------
