MFIC links with Smart for remittance delivery
Microfinance International Corp. has entered into a partnership with Smart Communications Inc. to expand its delivery of remittances to the Philippines.
Smart will pay-out the remittances sent through ARIAS, MFIC’s money transfer solution, originated by financial service providers in the US, Japan and Europe. Remittances to a Smart Money account may be received through the various encashment channels of Smart Money – over 100 Smart Wireless Centers, over 7,000 Philippine ATMs, and thousands of Smart Money centers and agents all over the Philippines.
Through this partnership, MFIC will develop mobile international payment infrastructures in the major remittance corridors, making money transfer more convenient for remittance senders and recipients.
Funds received in the beneficiary’s Smart Money account will be available immediately for encashment, and also for other features such as airtime reloading, bills payment, and merchant purchases.
MFIC said its partnership with SMART will complement its remittance initiatives in different global regions to make mobile money transfers available to more people around the world.*
