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Reaching the Unbanked with Mobile Banking in Developed Markets, Part 1: International Remittance

Author: Mark Beccue, Senior Analyst, Mobile Services

Published: 15 Sep 2009

The most mature and successful mobile international remittance programs today are the efforts led by two Philippine Mobile Network Operators (MNOs): Smart Communications and Globe Telecom. In late January 2008, Malaya, the national newspaper of the Philippines, reported that Smart and Globe processed $3 billion in international remittances in 2007, about 20% of the total remittances into the Philippines in that year. The newspaper also reported that about 2.2 million of the estimated 8 million migrant Filipinos are using the two services. So, what are the steps to garnering customers?

The full text of this Insight is available to subscribers of the Mobile Money & NFC Research Service.

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