MABS joins global M-Commerce Summit

MANILA, Philippines - The Microenterprises Access to Banking Services (MABS) program of the Rural Bankers Association of the Philippines (RBAP) participated in the M-Commerce World Summit 2010 held last month in Singapore.

The summit covered mobile money transfer and mobile money remittance, mobile payment and NFC technologies, mobile banking, banking the unbanked and microfinance services, and mobile marketing and advertising.

It has highly regarded expert speakers and panelist representing M-Commerce Ecosystem from Europe, Africa, Asia and the United States. G-Xchange Inc. (GXI), the Globe Telecom subsidiary running GCash, and RBAP-MABS were the Philippine representatives.

MABS regional manager for Mindanao Anthony Petalcorin discussed how mobile money worked well with microfinance in the Philippines. 

Centered on the Philippine rural banking experience, Petalcorin shared with the participants the roadmap in preparing microfinance institutions to promote mobile money and mobile financial services. He discussed the business model used, issues and lessons learnt from pilot tests vis-à-vis operational, public acceptance and regulations, overcoming cash-in and cash-out constraints in the rural areas, and developing mobile m-commerce.

GXI head for International Remittance & Banking Business Development Paolo Baltao shared his perspective working in partnership with rural banks and showed a video of Cantilan Bank, one of the most successful rural banks in the Philippines offering microfinance and mobile banking.

About 100 participants mostly from Asia and Africa attended the summit, the third since 2008.