Smart Money ties up with Bayad Center

MANILA, Philippines - There will soon be 200 new channels for people to get money into and out of a Smart Money account -- the world’s first reloadable payment card linked to a mobile phone.

Smart Communications Inc. (Smart) has teamed up with CIS Bayad Center Inc., the country’s pioneer in over-the-counter multiple bills payment collection business, to enable all Bayad Center branches all over the country to become ‘money-in, money-out’ (MIMO) centers.

This expands the MIMO network of Smart Money, which already includes over 4,000 Smart Money Centers in every corner of the country, and 100 Smart Stores.

Smart Money account holders may proceed to the nearest Bayad Center to load funds into his or her Smart Money account.

Upon loading, the account holder can start enjoying the benefits of using their Smart Money as an ‘electronic wallet’.

These benefits include the convenience of peer-to-peer mobile cash transfers or buying airtime for their own or their loved-ones’ Smart cellphones, with just a few clicks on their handset, anytime, anywhere.

 They may also use the Smart Money card like an automated teller machine (ATM) card – to pay for goods and services from partner MasterCard establishments worldwide and online, or withdraw from over 10,000 ATMs in the country and Cirrus ATMs around the world.

Smart Money account holders who need to encash funds in their account – particularly those who receive remittance from overseas –may also do so at any Bayad Center.

This is possible because Filipinos all over the world can make cash transfers to Smart Money accounts in the Philippines.

They can do this through any of over 95,000 international money transfer locations, including participating locations of The Western Union Co. and MoneyGram International in Hong Kong, Malaysia, and the United States.

Once the funds are sent, the Philippine-based beneficiary receives a free SMS notification about the fund transfer.

They have the option to encash the fund transfer from any of Bayad Center’s branches, or let the money stay in the Smart Money account to electronically pay for goods and services with just a few clicks on their mobile phone.

BDO Unibank Inc. (BDO) is the issuer of Smart Money in the Philippines. To find the nearest Bayad Center, go to www.bayadcenter.com.