Mobile banking takes the lead

BY JIMMY CALAPATI
“THE Philippines is among the most advanced mobile money markets in the world”
This was the statement of the GSM Association (GSMA), an association of 800 mobile operators and more than 200 related companies all over the world, in its 2010 annual report entitled “The Mobile Money for the Unbanked Programme”.
In the report, GSMA said that three factors have contributed to the success of mobile money in the Philippines: the characteristics of the Philippines market; actions taken by the Bangko Sentral ng Pilipinas (BSP); and, actions taken by the country’s top telecommunications company–Smart and Globe.
“Not only the extent, but also the way in which Filipinos have adopted mobile have been key enablers of mobile money success. The country is the texting capital of the world and Filipino mobile users are highly SMS literate, which made the proposition of conducting financial transactions on a handset somewhat more intuitive,” GSMA said.

BY JIMMY CALAPATI

Malaya – “THE Philippines is among the most advanced mobile money markets in the world”

This was the statement of the GSM Association (GSMA), an association of 800 mobile operators and more than 200 related companies all over the world, in its 2010 annual report entitled “The Mobile Money for the Unbanked Programme”.

In the report, GSMA said that three factors have contributed to the success of mobile money in the Philippines: the characteristics of the Philippines market; actions taken by the Bangko Sentral ng Pilipinas (BSP); and, actions taken by the country’s top telecommunications company–Smart and Globe.

“Not only the extent, but also the way in which Filipinos have adopted mobile have been key enablers of mobile money success. The country is the texting capital of the world and Filipino mobile users are highly SMS literate, which made the proposition of conducting financial transactions on a handset somewhat more intuitive,” GSMA said.

Read the complete article on Malaya online.