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SMART, Roamware Team on Global Deployment of Mobile Financial Services

By Anuradha Shukla November 10, 2008
Smart Communications has announced it partnered with Roamware to create a global service environment for the deployment of international mobile financial services.
 
The partnership was sealed with the signing of a Memorandum of Understanding (MOU) between Smart Communications, a wireless services provider in the Philippines and Roamware, a U.S.-based roaming services provider.
 
Under the agreement, both companies will leverage existing network infrastructure, resources, expertise and international reach, to make Mobile Money Transfers available to mobile operators and financial institutions worldwide.
 
SMART’s Smart Services Hub, a global financial and telecommunications services solution, is based on the proven capabilities and features of its award winning Smart Money electronic financial services platform. Both partners have decided to deploy the Smart Services Hub across Roamware’s propriety service delivery platforms. Roamware’s platforms are already linked with over 350 mobile network operators in more than 130 countries across the globe and the companies believe this move will facilitate the global deployment of the money transfer service.
 
SMART Chief Wireless Services Advisor, Orlando B. Vea said that their company is pleased to combine their wide network of bank and fulfillment partners with Roamware’s global reach and technology. He expects the alliance will develop a reliable and convenient alternative mobile remittance corridor and is confident that their Mobile Money Transfer service will become a primary remittance channel for overseas migrant worker customers.
 
Currently, the total volume of international monetary remittances is around US $300 billion. This figure is expected to triple by 2010.
 
Also, because a large number of people worldwide use mobile phones, SMART and Roamware believe their offering will help the migrant workers to conveniently remit money with just a few clicks on their mobile phones.
 
SMART and Roamware also offer a host of additional financial transfer products and services to subscribers, which are expected to enable seamless cross-border monetary transactions.
 
According to Bobby Srinivasan, president & CEO of Roamware, partnering with this wireless services provider in the Philippines will enable them to further demonstrate their experience in deploying innovative, secure and reliable solutions to the global mobile operator community.
 
“We look forward to delivering the benefits of mobile money transfer to millions of migrant workers around the world, through fast and reliable transactions,” he said.

Anuradha Shukla is a contributing editor for IoTevolutionworld. To read more of Anuradha’s article, please visit her columnist page.

Edited by Stefania Viscusi
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IoTevolutionworld Contributing Editor

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