New developments in Mobile Phone Banking for 2010 highlighted at National Roundtable Conference

Leaders from the mobile phone industry and rural banking met on June 3 to discuss new developments in mobile phone banking during the 2010 RBAP-MABS National Roundtable Conference in Manila.
Mr. Jaime Fraginal Jr., Head of Sales of G-Xchange, Inc. – a wholly owned subsidiary of Globe Telecom – first presented GCASH Remit, an instant cash pick-up service for domestic and international remittances. This convenient service, accessible through 18,000 partners across the country (including 3,000 partners from the rural banking network), has low remittance charges for the sender and is free of charge for the beneficiaries. Because there is no third party handling the cash and it requires a PIN number from the beneficiary, GCASH Remit is safe and secure. By building the infrastructure to increase the flow of money throughout the nation, GCASH Remit looks to play a significant part in the development of the Philippine countryside as another remittance opportunity for accredited rural banks.
Mr. Fraginal also introduced the Mobile Phone Banking Marketing Program II, an incentive program for rural bank clients to induce their customers to test and become familiar with mobile phone banking services using GCASH. This promotion will provide rural bank merchant-partners with an additional source of income while increasing the marketing network of rural banks to support and expand the use of mobile phone banking services.
Next, Mr. Marcelino Pangda of Green Bank described how his bank developed a Mobile Phone Banking Unit to utilize SMS technology and the GCASH platform. With continuous training and willingness to be exposed to new emerging technologies, the employees and clients of Green Bank successfully embraced mobile phone services with a significant increase in mobile banking transactions in 2009. Mr. Pangda shared the bank’s performance in mobile phone banking services over the past few years, with a 50% increase in the number of mobile phone transactions and an 80% increase in the amount transactions in 2009. Cash-in and cash-out transactions make up over 85% of the bank’s mobile phone transactions. Green Bank is expecting increases in both enrollment and number of mobile phone banking transactions in 2010. It also plans to integrate its mobile phone banking services with its ATM services to offer a full suite of e-banking services.
To close this panel discussion, MABS Chief of Party John Owens expanded upon his introduction of branchless banking from the first day’s session. RBAP-MABS’ commitment to the growth of mobile phone banking in the Philippines is evident with a major expansion in mobile phone banking services via the GCASH platform. There were also the introduction of mobile money transfer for Smart subscribers via the Smart Money platform, the testing of a new mobile phone banking application for GCASH subscribers, and the partnership with Microfinance Opportunities and MasterCard Foundation to develop financial education tools and utilize a growing network of rural banks merchant-partners.
Merchant-partners will provide cash liquidity (cash-in/cash-out) to rural bank clients while training clients on the functionality and services of mobile phone banking. They will also be referred to the local branch to open a deposit account or apply for a loan, if they are not yet rural bank clients. Rural banks will also have the opportunity to help their merchant-partners manage their GCASH wallets providing essential liquidity services while also helping to build deposits. Mr. Owens stressed the importance of unity among rural banks when it comes to standardizing the cash-in/cash-out fee structure if they intend to capture a significant portion of this market.
How has your bank embraced the new age of mobile phone banking technology? Share your stories and experiences by replying to this post.
Until next time, Mabuhay ang Mobile Phone Banking!

Jaime FraginalLeaders from the mobile phone industry and rural banking met on June 3 to discuss new developments in mobile phone banking during the 2010 RBAP-MABS National Roundtable Conference in Manila.

Mr. Jaime Fraginal Jr., Head of Sales of G-Xchange, Inc. – a wholly owned subsidiary of Globe Telecom – first presented GCASH Remit, an instant cash pick-up service for domestic and international remittances. This convenient service, accessible through 18,000 partners across the country (including 3,000 partners from the rural banking network), has low remittance charges for the sender and is free of charge for the beneficiaries. Because there is no third party handling the cash and it requires a PIN number from the beneficiary, GCASH Remit is safe and secure.

By building the infrastructure to increase the flow of money throughout the nation, GCASH Remit looks to play a significant part in the development of the Philippine countryside as another remittance opportunity for accredited rural banks.

GCASH partner merchantMr. Fraginal also introduced the Mobile Phone Banking Marketing Program II, an incentive program for rural bank clients to induce their customers to test and become familiar with mobile phone banking services using GCASH. This promotion will provide rural bank merchant-partners with an additional source of income while increasing the marketing network of rural banks to support and expand the use of mobile phone banking services.

Since its launch earlier this year, MABS and GXI have been conducting trainings for bank clients in order to expand the mobile phone banking and m-commerce community.

Marcelino Pangda

Next, Mr. Marcelino Pangda of Green Bank described how his bank developed a Mobile Phone Banking Unit to utilize SMS technology and the GCASH platform. With continuous training and willingness to be exposed to new emerging technologies, the employees and clients of Green Bank successfully embraced mobile phone services with a significant increase in mobile banking transactions in 2009.

Mr. Pangda also shared the bank’s performance in mobile phone banking services over the past few years, with a 50% increase in the number of mobile phone transactions and an 80% increase in the amount transactions in 2009. Cash-in and cash-out transactions make up over 85% of the bank’s mobile phone transactions. Green Bank is expecting increases in both enrollment and number of mobile phone banking transactions in 2010. It also plans to integrate its mobile phone banking services with its ATM services to offer a full suite of e-banking services.

John Owens 2

To close this panel discussion, MABS Chief of Party John Owens expanded upon his introduction of branchless banking from the first day’s session. RBAP-MABS’ commitment to the growth of mobile phone banking in the Philippines is evident with a major expansion in mobile phone banking services via the GCASH platform. There were also the introduction of mobile money transfer for Smart subscribers via the Smart Money platform, the testing of a new mobile phone banking application for GCASH subscribers, and the partnership with Microfinance Opportunities and MasterCard Foundation to develop financial education tools and utilize a growing network of rural banks merchant-partners.

Merchant-partners will provide cash liquidity (cash-in/cash-out) to rural bank clients while training clients on the functionality and services of mobile phone banking. They will also be referred to the local branch to open a deposit account or apply for a loan, if they are not yet rural bank clients. Rural banks will also have the opportunity to help their merchant-partners manage their GCASH wallets providing essential liquidity services while also helping to build deposits. Mr. Owens stressed the importance of unity among rural banks when it comes to standardizing the cash-in/cash-out fee structure if they intend to capture a significant portion of this market.

How has your bank embraced the new age of mobile phone banking technology? Share your stories and experiences by replying to this post.

Until next time, Mabuhay ang Mobile Phone Banking!