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MOBILE BANKING: A Smartphone, a bank account and MasterCard Electronic
Posted by Carlo Guerrero - on Friday, 25.04.03 - 12:05:30 CET under 09 - Thoughts - Viewed 8683x
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I've been using the SMART Money MasterCard Electronic for more than a year now. Sometimes it just beats using cash or using a credit card. The SMART Money MasterCard Electronic is as good as cash as it is preloaded with any desired amount. This means there are no monthly bills.

The unique thing about the SMART Money card I use is that it is tied to my mobile phone account with SMART Communications here in the Philippines. There are several ways of using it from simply using the m-com number for OTA purchases or by swiping it through a magnetic stripe reader at the cashier.

What makes it more interesting this time around is the idea of binding it to a Savings Account and a Smartphone or an Internet enabled Pocket PC or Pocket PC Phone Edition. While this concept isn't really that new, since it was conceived two years ago when SMART Communications teamed up with MasterCard and a local bank to offer SMART money, it seems that the current crop of internet enabled devices add more value to it now more than ever before.

Smart Money is the world's first electronic-wallet-card application linked to a mobile phone, and now, it may as well be linked with a Smartphone or a Pocket PC. The cool thing about it is that whenever a purchase is made, a confirmation is sent via SMS as to how mch the purchase was, where and when the purchase took place.

In the future I shall review the whole service, the process, and how it really works well with the Smartphone or Pocket PC. I will be using my Smartphone to transfer cash from my bank to my SMART Money Card. Use my Smartphone or my SMART Money Card for purchases, and receive confirmation via SMS. We'll see what more can be done with it, ad not to mention how much I'll be spending for those purchases.:D

Mabuhay ~ Carlo


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