August 2012
mHITs has announced that it’s Australian SMS mobile wallet service has expanded its international mobile remittance to include SMART subscribers in the Philippines.
Combined with the existing access to Globe GCASH subscribers, the addition of SMART to means that users of the mHITs Remit mobile remittance service will now be available to send money to almost 63 million Philippinos.
The mHITs Remit micro-remittance service allows Australian mHITs account holders to safely and conveniently send money to counterpart mobile wallet operators in other countries simply by sending an SMS. Unlike traditional international remittance methods, the mHITs Remit service provides instantaneous transfer of funds directly to a recipients mobile wallet account. It does not require a transfer agent or bank.
Senders can conveniently perform a transaction from their mobile phone at any time and require only the mobile number of the recipient in order to send money. Recipients do not need a bank account, do not need to wait for the funds to arrive or do not need to travel to or locate a transfer agent to access their funds. The Recipient can access the funds instantly and securely from their mobile wallet directly or depending upon the region, may also withdraw funds in cash, via ATMs and SMART Money centres.
mHITs is one of the first mobile wallet operators in the developed world to provide this service. For the first time, people living in Australia will be able to send money instantly and conveniently by mobile phone to their relatives and friends living in the Philippines by having funds credited immediately to either their Globe CGASH or SMART Money mobile wallet account. In some developing markets, families and communities rely on money sent by relatives abroad to pay for essentials such as food, clothing and medicines.
For more information on the mHITs Remit service see www.mhits.com.au/send-money.
about mobile international remittance
Mobile technology lowers the cost of remittances as it removes the need for physical points of presence and ensures a timely and secure method of transaction. The World Bank estimates that reducing remittance commission charges by 2-5% could increase the flow of formal remittances by 50-70%. Reducing the cost of sending each individual remittance encourages the delivery of lower value remittances, at values far less than today’s average transfer of US$200.
Mobile communications can also drive significant growth of the formal remittance market and has the potential to vastly improve and transform access to remittance funds for people in developing countries. The GSMA forecasts that the formal global remittance market could grow from around US$300 billion today to over US$1 trillion in five years with the help of mobile communications.
For more information visit www.gsma.com.
about mHITs
mHITs (pronounced Em-HITS) is an Australian based developer and operator of mobile payment services. In Australia, mHITs operates the mHITs SMS payment service that allows consumers to send and receive payments by SMS text message.
For retail transactions, mHITs allows consumers to pay for coffee or other food and beverage items using their mobile phone simply by sending an SMS. Consumers can also use the mHITs service to pre-order their items before arrival at a venue, meaning less queuing and waiting and faster service.
mHITs is also an ideal payment method for purchase of mobile content, MP3 and other electronic and digital downloads, or for making purchases for goods and services from Internet websites. Other applications include cashless vending, web based micro-billing, parking, taxi fare payment and cash back offers.
For more details of the mHITs Australian SMS payment service visit www.mhits.com.au.
about SMART Money
Operated by Smart Communications, Inc. SMART Money is one of the world’s first and leading mobile wallet services. SMART is the Philippines’ leading wireless services provider with over 50 million subscribers. SMART Money is also connected to 13 partner banks, 10,000 ATMs, and over 5,000 Money In Money Out Centers.
For more details visit www.smart.com.ph/money.
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