2004-11-Jan

While technology pundits are skeptical of the viability of m-commerce especially in developing countries, a start-up company has pioneered the country and perhaps the world’s first SMS-based remittance card.

RemitCard Inc., a company formed by a group of enterprising individuals, led by former PCIBank executive Philip Camara, recently launched its key product, RemitCard.

By incorporating a PIN for each RemitCard, people are afforded the opportunity to “text” their financial transactions through their cellular phones. RemitCard users can “text” key financial transactions to the company’s servers, which then process and immediately download them to the company’s partner institutions.

Civil society has been the first to embrace the revolutionary product, with nongovernment organizations, like Haribon, World Vision, Tahanang Walang Hagdanan and the Jesuit Volunteers, now using RemitCard to allow their members to “text” their donations to the organizations. With their respective service agreements with RemitCard, each member of these NGOs are afforded the chance to send their gifts to their favorite organizations this Christmas.

RemitCards are available at Rustan’s Supermarkets, SM Malls, Shangri-La Mall and True Value stores.

NGO donors can simply follow simple text messaging instructions at the back of each RemitCard to make their donations to their NGOs. “It makes an ideal gift because it is convenient for both the sender and receiver,” said Camara.

“We’ve made sure RemitCards are available at retail outlets to let people experience the convenience of “texting” their financial transactions, instead of having to take the hassle of traveling to different places to make their payments or donations,” Camara stressed.

According to Camara, “in a country where more than 16 million people run their lives via their cell phones, it’s but natural that the gadget is used for financial transactions.”

RemitCard is currently working with university alumni associations, airlines, preneed and insurance companies, and mall gift certificate facilitators to widen the market for SMS-based m-commerce in the country. The company is also eyeing the global market for overseas Filipino workers since this is where the product would make the largest impact for Filipinos here and abroad.

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