Ericsson, Globe, Smart form tie ups in mobile money transfers

Sweden-based Ericsson Money Services has launched an international remittance service in Europe and the Philippines. In a statement Thursday, Ericsson Money Services said it has partnered with Globe Telecom and SMART Communications e-wallet service. The tie ups would enable mobile phone users in the Philippines to send and receive money from friends and family in Europe. Subscribers of Globe’s GCash and Smart’s Smart Money and their counterparts abroad can withdraw cash from ATMs around the world. The mobile money service currently connects seven European countries — UK, France, Germany, Italy, Spain, Poland and Sweden — and, starting Thursday, the Philippines. This development brings the company a step closer to introducing globally its full suite of mobile financial services to consumers. With the mobile remittance service, subscribers can send and receive money as easily as sending a text message, Ericsson Money said. For overseas Filipino workers, the scheme guarantees that the money will reach the intended recipient’s phone rather than a third party international remittance cash office, the company said. The service also caters to consumers with limited access to formal banking systems as they only need to use their mobile handsets to manage their funds, and to ‘be their own bank manager,’ the company added. Mobile phones and banking “Many people around the world are already more at ease using a mobile phone than they are a bank or money transfer office. Recent feedback in the Philippines showed that our test consumers really valued the safety, instant nature and ease of access provided by Ericsson Money over other more traditional money transfer services," said Semir Mahjoub, Ericsson vice president and president of Ericsson Money Services. Before long it will also be possible for mobile phone users around the world to interconnect local mobile money services globally to transfer money from person to person, make secure bill payments, shop online and pay in retail stores instantly through Ericsson Money and other e-wallet partners, Ericsson Money said. Paolo Baltao President of GXchange Inc, GXI, the mobile commerce subsidiary of Globe Telecom says: “Our partnership with Ericsson Money Services and its interconnection network improves and expands access to our e-wallet scheme, GCASH, in new countries. This is an exciting partnership bringing different mobile wallet services together and assures overseas Filipino workers of a better and broader international remittance service." The Philippines is one of the most mature international remittance countries in the world with almost 11 per cent of the population working overseas and sending money home to their families. Ericsson Money will also add its new ‘Invite Friends’ feature from today in all seven European countries. The feature is a way to invite friends, family and other contacts to join Ericsson Money and for users to send money to contacts that have not yet set up an Ericsson Money account. — CMA/VS, GMA News