Smart Money bags juicy contract from Malaysian cellphone firm

Smart Money Holdings Corp. (SMHC) has bagged a multi-million dollar contract to provide Malaysia’s TM Cellular Sdn Bhd an end-to-end mobile commerce platform to run its cellular phone commerce service to be launched this month.

This is the first international licensing agreement awarded to SMHC, the mobile commerce subsidiary of leading Philippine wireless operator, Smart Communications Inc.

According to SMHC officials, the licensing agreement with TM Cellular is just the beginning and they expect similar agreements in the future with other international operators.

TM Cellular is one of Malaysia’s leading mobile service providers and is a subsidiary of Telekom Malaysia Berhad, the principal fixed line operator in Malaysia. It uses the brand TMTouch for its digital cellular network services and has around 1.4 million subscribers, 55 percent of who are post-paid users.

Company officials said a substantial number of TMTouch subscribers are expected to benefit from mobile commerce services in the future when the services are rolled out. They are also optimistic that their number of mobile users could double with the introduction of more services.

SMHC’s mobile commerce implementation for TM Cellular is based on the internally-recognized and successful system deployed for Smart Communications. Its system can be tailored to individual operator specifications based on the operating environment and specific needs of the market.

TMTouch subscribers, upon implementation of the mobile commerce services, will be able to enjoy SIM personalization and browser flexibility, packaged mobile banking service, mobile payment and e-wallet application.

TM Cellular has teamed up with Bumiputra Commerce Bank (BCB) to provide the new services. The principal services to be offered with BCB in the short term will involve mobile banking services such as account balance inquiries, funds transfer, prepaid card reload, payment for utility bills, checkbook and statement request, and pin number changing – all available through their mobile phones.

At a later stage, BCB will use an electronic Mastercard that can be linked to and controlled by the mobile phone under the brand name Smart Cash.

SMHC chief executive officer Ian Wilson said: "we believe in the future of mobile commerce and the licensing agreement with TM Cellular is just the beginning. SMHC will continue to create mobile commerce systems that will result in increased revenue opportunities for international operators."

For his part, Telekom Malaysia chief executive Yang Berbahagia Dato’ Dr. Md. Khir Abdul Rahman noted that this platform is essential in ensuring the success of their mobile payments strategy and can be rapidly set up for their subscribers’ convenience based on a secure financial payment system.

"Telekom Malaysia Berhad fully supports this alliance with SMHC as it reflects our business outlook, which is to emphasize on the power of wireless telecommunications," he said.