Thursday, October 1, 2009

Smart, BPI tie up for mobile phone banking transactions


By Mary Ann Ll. Reyes (The Philippine Star) Updated September 30, 2009 12:00 AM

MANILA, Philippines - Bank of the Philippine Islands (BPI) and Smart Communications unveiled yesterday a new service that will allow bank clients who are also Smart subscribers to do a wide range of bank transactions through their mobile phones.

The BPI-Smart Full-Mobile Banking is a huge upgrade for BPI clients who are Smart subscribers since balance inquiry transaction was previously the only function that can be used through the key-based mobile banking facilities. Now, they cannot only balance inquiry but also do fund transfers, bill payments, Smart prepaid airtime reloading and Smart Money reloading.

Philippine Long Distance Telephone Co. (PLDT) and Smart president and CEO Napoleon Nazareno said they see bright prospects for mobile commerce in the Philippines.

“As the country’s leading telco, we have adopted the fundamental strategy of providing relevant communication solutions and mobile security infrastructure to our partner banks. We are confident that this partnership with BPI, the country’s pioneer in electronic banking, will result in an expanded, more secure, and more convenient mobile banking experience for millions of Smart and BPI customers,” Nazareno added.

For his part, BPI president and CEO Aurelio Montinola III pointed out that it is really part of BPI’s commitment to take advantage of alternative channels to make banking more convenient to their clients, adding that the menu-driven BPI-Smart Full-Mobile Banking is banking made easy.

He emphasized that regardless of the telco provider of their clients, BPI wants to give its clients the capacity to do mobile banking. “We want to take advantage of alternative channels to make banking more convenient to our clients. We do not want to confine them to branch banking,” he said, adding the bank is dealing with both Smart and Globe Telecom to expand their mobile banking.

BPI has more than three million BPI, BPI Family Savings and BPI Direct customers who can use mobile banking for both financial and non-financial transactions.

Meanwhile, of the 39 million Smart subscribers, around 7.5 million are with Smart Money while one million are engaged in mobile banking. Smart currently has tie-ups with 21 banks which are involved in mobile banking.

BPI senior vice president and head of overseas banking and channel services Teresita Tan explained that it is like having the bank in one’s cellphone. With your Smart SIM, you will be able to access your BPI accounts 24 x 7, wherever you are, whenever you want, even when you are on the go,” she said.

To enroll for mobile banking, clients must have at least one ATM-based BPI deposit account. BPI credit cards will be immediately tagged when ATM-based deposit account is applied.


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http://www.philstar.com/Article.aspx?articleId=509717&publicationSubCategoryId=66

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