MANILA, Philippines - Whether sending remittances to family and relatives in the Philippines, shopping online, or just simply transferring money to friends, Filipinos abroad can now enjoy a faster, more affordable, and more convenient way of sending and receiving funds, via Smart Money.
Wireless leader Smart Communications Inc. (Smart) recently partnered with nTrust, a peer-to-peer online service that lets users instantly send and receive money in a wide range of currencies.
Smart Money, the country’s first and largest electronic wallet service linked to a mobile phone, allows account holders to transfer money electronically to any Smart subscriber, do cashless shopping online and in more than 32 million MasterCard merchants worldwide, pay bills using their mobile phone, and reload their Smart prepaid accounts.
With the partnership, Smart Money account holders can now send and withdraw money online through nTrust, making the online gateway the first web-based Smart Money center.
Smart executive vice president and head of wireless consumer division Emmanuel Lorenzana said the partnership is a testament to Smart’s continuing efforts to enable Filipinos from all over the world to carry out their financial transactions in the most secure and convenient way possible.
To get started, an account holder must sign up for a free nTrust account. He must then create his nTrust Neighborhood, a custom list of trusted friends and family with whom he may send or receive money from.
After depositing funds to his account using a wide selection of payment options, a user can now send money to a member of his ‘neighborhood’ for free. Money can be withdrawn through Smart Money or via direct bank transfer, wire transfer, or check.
Since nTrust also allows conversion between currencies, overseas Filipino workers can send remittances in a different currency. Their loved ones can easily and conveniently receive the money in Philippine peso without the hassle of going to and lining up in remittance centers.
They can then choose to either withdraw cash using their Smart Money from over 9,000 BDO, BancNet, Megalink or ExpressNet ATMs nationwide, or use the funds in the Smart Money account for a wide range of services such as a debit card for shopping, bills payment, or prepaid reloading.
nTrust chief executive officer Robert MacGregor said that Smart has demonstrated that it is a thought leader.
“It was a natural fit for us because we both have eyes for innovation, providing next generation services to customers in a cost-effective and convenient way,†MacGregor added.
To enjoy fast, easy, and safe electronic payments, SMART subscribers simply have to apply for a Smart Money card by presenting a valid ID at any Smart Store, or filling up a form at http://smart.com.ph/apply/money/apply.aspx. To sign up for an nTrust account, visit www.ntrust.com.