Smart, US firm tie up for money transfer service

Smart Communications is partnering with Roamware, a leading US-based roaming services provider, for the deployment of international mobile financial services.

Smart and Roamware sealed a memorandum of understanding, agreeing to leverage existing network infrastructure, resources, expertise and international reach, to make mobile money transfers available to mobile operators and financial institutions around the world.

The wholly-owned wireless subsidiary of PLDT developed its Smart Services Hub, a global financial and telecommunications services solution, based on the proven capabilities and features of its award winning Smart Money electronic financial services platform. 

Based on the MOU, Smart and Roamware will explore opportunities to deploy the Smart Services Hub across Roamware’s own industry-leading service delivery platforms currently linked with more than 350 mobile network operators in over 130 countries worldwide. This will facilitate the global deployment of the money transfer service.

“We are pleased to combine Smart’s wide network of bank and fulfillment partners with Roamware’s global reach and technology to develop an alternative mobile remittance corridor that is reliable and convenient,” according to Orlando Vea, Smart chief wireless services advisor. “We are confident our mobile money transfer service will become a primary remittance channel for overseas migrant worker customers sending money to their loved ones all over the world,” Vea added.

For his part, Roamware president and CEO Bobby Srinivasan said:“Our relationship with Smart will enable us to further demonstrate our own vast 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.”

The total current volume of international monetary remittances is around $300 billion, and is expected to reach three times that level by 2010. With over 60 percent of the global population in possession of mobile phones, Smart and Roamware’s offering promises to benefit millions of migrant workers who can remit money to family members and friends back home with just a few clicks on their mobile phones. In addition, a whole host of additional financial transfer products and services will be accessible to subscribers, thereby enabling seamless cross-border monetary transactions.

Roamware is the leading provider of voice and data roaming solutions that enhance the roaming experience for users in more than 130 countries worldwide. Roamware’s suite of solutions is the result of continuous and insightful innovation, and has helped over 350 mobile operators manage their roaming business in tune with the varied trends in the global mobile roaming industry.

Roamware’s product portfolio consists of over 30 solutions across the GSM and CDMA domains that are built on the Roamware Service Delivery System (SDS) which facilitates seamless deployment and integration of applications and services with a mobile operator’s network operational and IT infrastructure.