Smart Money, BICS provide easy remittance options to OFWs in Qatar, Australia

Filipinos in Qatar and Australia now have an easier way of sending remittances to the Philippines, following a partnership between Smart Money, the world’s first electronic wallet service, and BICS (Belgacom International Carrier Services), an international provider of mobile financial services. The partnership enables people based in Qatar and Australia to use their mobile phone to transfer funds instantly and cost effectively to their relatives and friends who have a Smart or Talk ‘N Text mobile number.

Those living in Qatar can send money from their mobile wallet with Qatar Telecom (Qtel), while those in Australia can use their account with mHITs. Qtel is a leading international company in the MENA (Middle East and North Africa) region and Southeast Asia which provides mobile phone services, broadband solutions, and fiber technologies. mHITs is an Australia-based pioneer developer and operator of mobile payment services.

“Both money senders and recipients no longer need to visit a transfer agent or bank to send or receive remittances. Funds will instantly be transferred to the recipient’s Smart Money wallet after the sender makes a few clicks on his mobile phone,” said Smart financial services head Tricia Dizon.

“In case of emergency, OFWs in Australia and Qatar can now send money immediately to help their loved ones back home,” she added.

For his part, BICS Senior Vice President for Mobile Financial Services Frederic Schepens said: “The two corridors towards Smart Money are a great example of the future of international money transfers, enabling people to send and receive money across the world in a simple, fast, cost-effective and yet secure manner. BICS is working hard to bring this future to other parts of the world and is constantly adding new partners to its HomeSend service.’’

“We are excited to combine the simplicity and ubiquity promised by our Smart Money platform with the wide network of BICS, to serve and benefit a wider market around the world,” Dizon said.

Under the partnership, the sending markets will gradually be expanded to include several countries in the Middle East, Asia, and Europe.

Funds transferred to Smart Money electronic wallets – which are linked to the account holder’s Smart mobile number – can be used for mobile payment of utility bills (Meralco, Maynilad, PLDT, etc.), reloading Smart prepaid accounts, and money transfers to other Smart Money accounts.

The Smart Money card can be used to withdraw the remittance from more than 10,000 BDO, BancNet, Megalink, and ExpressNet automated teller machines nationwide, and from almost 5,000 Smart Money Centers in the country. It can also be used to do cashless shopping in more than 32 million MasterCard merchants worldwide.

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