By EMMIE V. ABADILLA
January 13, 2012, 11:53pm
MANILA, Philippines — Soon, people will have 200 new channels to
withdraw and deposit money in a Smart Money account, the world's first
reloadable payment card linked to a mobile phone.
Smart Communications, Inc. (Smart) recently teamed up with CIS Bayad
Center, Inc., the country's pioneer in over-the-counter multiple bills
payment collection business, to enable all Bayad Center branches all
over the country to become "money-in, money-out" (MIMO) centers.
This expands the MIMO network of Smart Money, which already includes
over 4,000 Smart Money Centers in every corner of the country, and 100
Smart Stores.
Now, Smart Money account holders may proceed to the nearest Bayad Center
to load funds into their Smart Money account. Upon loading, account
holders can use their Smart Money as an "electronic wallet."
Benefits include the convenience of peer-to-peer mobile cash transfers
or buying airtime for their own or their loved-ones' Smart cellphones,
with just a few clicks on their handset, anytime, anywhere.
They may also use the Smart Money card like an ATM card to pay for goods
and services from partner MasterCard establishments worldwide and
online, or withdraw from over 10,000 ATMS in the country and Cirrus ATMs
around the world.
Smart Money account holders who need to encash funds in their account,
particularly those who receive remittance from overseas, may also do so
at any Bayad Center.
This is possible because Filipinos all over the world can make cash
transfers to Smart Money accounts in the Philippines. They can do this
through any of over 95,000 international money transfer locations,
including participating locations of The Western Union Company® and
MoneyGram International in the United States, Malaysia, and in Hong Kong.
Once the funds are sent, the Philippine-based beneficiary receives a
free SMS notification about the fund transfer. They have the option to
encash the fund transfer from any of Bayad Center's branches, or let the
money stay in the Smart Money account to electronically pay for goods
and services with just a few clicks on their mobile phone.
Smart Money is issued in the Philippines by BDO Unibank, Inc. To find
the nearest Bayad Center, users can go to www.bayadcenter.com.
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