Comments on: Philippines pioneers international remittance via SMS http://lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/ a regional ICT policy and regulation think tank active across the Asia Pacific Thu, 09 Feb 2012 16:34:12 +0000 hourly 1 By: SHAHBAZ http://lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/comment-page-1/#comment-16136 SHAHBAZ Sat, 25 Oct 2008 06:44:37 +0000 http://www.lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/#comment-16136 I WANT TO SEND MESSAGE TO PAKISTAN I WANT TO SEND MESSAGE TO PAKISTAN

]]> By: Laurent Elder http://lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/comment-page-1/#comment-8130 Laurent Elder Tue, 20 Feb 2007 19:07:21 +0000 http://www.lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/#comment-8130 The issue is one of cost and efficiency. Western Union is one of the more expensive ways to send and receive money and that tends to hit the people who can least afford it. The World Bank’s 2003 Global Development Finance Report estimates that "in certain parts of the world the average cost of transferring remittances can amount to about 13%, and often exceeds 20% of the remittance amount. In addition to these high fees, recipients are often faced with further costs on foreign exchange losses or slow check clearance. The report argues that reducing the transaction cost of remittances to less than 10% would imply an annual saving of $3.5 billion to overseas workers. New ATM and satellite technology is radically reducing costs in some markets, and could be extended to new markets. " The key to remittances via SMS (or any platform actually) is whether it increases industry efficiency and brings the cost down for users. A very interesting initiative by DFID to deal with this issue is the Sendmoney home site, where one can actually compare the cost of sending money: http://www.sendmoneyhome.org/ The issue is one of cost and efficiency. Western Union is one of the more expensive ways to send and receive money and that tends to hit the people who can least afford it. The World Bank’s 2003 Global Development Finance Report estimates that “in certain parts of the world the average cost of transferring remittances can amount to about 13%, and often exceeds 20% of the remittance amount. In addition to these high fees, recipients are often faced with further costs on foreign exchange losses or slow check clearance. The report argues that reducing the transaction cost of remittances to less than 10% would imply an annual saving of $3.5 billion to overseas workers. New ATM and satellite technology is radically reducing costs in some markets, and could be extended to new markets. ” The key to remittances via SMS (or any platform actually) is whether it increases industry efficiency and brings the cost down for users. A very interesting initiative by DFID to deal with this issue is the Sendmoney home site, where one can actually compare the cost of sending money: http://www.sendmoneyhome.org/

]]> By: Niroshan http://lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/comment-page-1/#comment-8129 Niroshan Mon, 19 Feb 2007 11:02:34 +0000 http://www.lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/#comment-8129 I don't see how it's a lot different to Western Union, which at the moment is a very popular and an efficient method of money transferring. May be the fact that this could be deployed in rural areas relatively easily is a slight advantage. But any new method like this more often than not will start in the cities and then gradually move out to rural areas, especially in the developing countries such as ours. I don’t see how it’s a lot different to Western Union, which at the moment is a very popular and an efficient method of money transferring. May be the fact that this could be deployed in rural areas relatively easily is a slight advantage. But any new method like this more often than not will start in the cities and then gradually move out to rural areas, especially in the developing countries such as ours.

]]> By: John Owens http://lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/comment-page-1/#comment-8128 John Owens Sun, 18 Feb 2007 06:30:56 +0000 http://www.lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/#comment-8128 If the above link does not work, you can also go to www.youtube.com/RBAPMABS. If the above link does not work, you can also go to http://www.youtube.com/RBAPMABS.

]]> By: John Owens http://lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/comment-page-1/#comment-8127 John Owens Sun, 18 Feb 2007 06:27:41 +0000 http://www.lirneasia.net/2007/02/philippines-pioneers-international-remittance-via-sms/#comment-8127 You will also find that Globe has also been offering a similar service using G-Cash since October 2004. It is now being used across the country by rural banks and is quite easy to use in rural areas even where there is no ATM. Check out the video of how the RBAP-MABS program came up with interesting mobile phone applications, including facilitating remittances for those without a mobile phone, in the provinces by watching the video on You Tube at http://www.youtube.com/watch?v=wz4HFSNgvuw. You will also find that Globe has also been offering a similar service using G-Cash since October 2004. It is now being used across the country by rural banks and is quite easy to use in rural areas even where there is no ATM.

Check out the video of how the RBAP-MABS program came up with interesting mobile phone applications, including facilitating remittances for those without a mobile phone, in the provinces by watching the video on You Tube at http://www.youtube.com/watch?v=wz4HFSNgvuw.

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