NTT DoCoMo launches remittance service via Smart Money

MANILA, Philippines -  Residents of Japan will soon be able to send directly to the Smart Money account of their loved ones and friends in the Philippines through docomo Money Transfer, the first mobile-to-mobile remittance service in Japan.

The service, a product of Japan-based NTT DoCoMo, will be available to service remittances to any of over 8.5 million Smart Money accounts in the Philippines.

Smart Money is the world’s first reloadable payment card linked to a Smart cellphone powered by the mobile commerce platform of Smart. NTT DoCoMo, is a partner of Smart’s mother company – Philippine Long Distance Telephone Co. (PLDT).

To avail of the service, the Japan-based sender simply has to register for a docomo Money Transfer account. Once registered, the sender then can remit cash to any Smart Money account in the Philippines by making an order from a mobile phone.

Once the designated recipient, cash value and 16-digit Smart Money account number have been indicated, the speedy and secure remittance of funds will commence. Cost of the service is ¥1,000 per transaction.

“Our partnership with NTT DoCoMo underscores our long standing strategy of collaborating with different service providers, financial institutions and remittance companies, here and overseas, to enable them to offer innovative services to a wider customer base. We are certainly excited to bring another first to the telco landscape that will benefit overseas Filipinos and their loved ones,” Smart financial services group head Tricia Dizon said.

The service is expected to benefit over 200,000 Filipinos in Japan and their friends and loved ones back home. docomo Money Transfer may also service the remittance requirements of Japanese nationals sending to fellow Japanese in the Philippines. In 2010, the record of Japanese visitor arrivals in the country stood at over 350,000, as reported by the Department of Tourism.

Aside from the Philippines, the docomo Money Transfer will enable remittances to Brazil, South Korea and China. Nationals of these four countries account for almost 80 percent of all foreign residents in Japan. The docomo Money Transfer is expected to benefit more countries in the future.

Since 2000, Smart has been actively promoting mobile commerce in the Philippines. Its mobile commerce offering, Smart Money, is the world’s first reloadable cash payment card linked to a mobile phone. Smart Money won the 2001 3GSM Award for “Most Innovative GSM Wireless Service for Customers, and 2009 Asia Mobile Awards for the “Best Mobile Money Service” and “Best Mobile Money for the Unbanked” categories. It was also cited as the “Best Product Innovation” award at the MasterCard Awards in Australia.