Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
MoneyGram, Iris Wireless and Globe Telecom to Provide Mobile Phone Load Service in Philippines
MoneyGram, Iris Wireless and Globe Telecom Partner to Provide Mobile Top-Up to Philippines
U.S. consumers can purchase airtime credits for loved ones in the Philippines at any MoneyGram ExpressPayment agent location
MoneyGram International and Iris Wireless announced an agreement to provide global prepaid mobile top-up services that will make it easier for Filipinos living in the United States to stay connected with friends and family in the Philippines.
Per the agreement, MoneyGram will provide load service for U.S. consumers who want to re-load the cell phone minutes of individuals in the Philippines who use Iris Wireless’ partner Globe Telecom as their service provider. MoneyGram is a leader in the payment services industry, and Iris Wireless is a leading provider of messaging services that is connected to more than 850 network operators in 200 countries.
“It also helps Globe extend our reloading channels beyond the traditional sales network.”
International mobile top-up, a complementary service to MoneyGram’s global money transfer business, gives U.S. consumers another way to support those living or traveling abroad by purchasing airtime credits on their behalf. MoneyGram will offer this service through its network of ExpressPayment® retail agents – 35,000 in the United States – including Albertsons LLC, CVS/pharmacy and Walmart.
“MoneyGram’s alliance with Iris Wireless allows our customers to not only pay bills and send money to loved ones; but now they can also help out their friends and family in the Philippines by providing instant credit on Globe Telecom mobile phones,” said Greg Waltz, vice president and general manager of Global Payments at MoneyGram International.
“As demand continues to grow for international prepaid top-up services, Iris Wireless is excited about partnering with MoneyGram and Globe Telecom to provide international airtime minutes home to friends and family members in the Philippines,” said Peter Rinfret, CEO of Iris Wireless.
Unlike in the U.S., where most consumers have contracts for monthly service with wireless carriers, prepaid billing is the standard for most wireless consumers around the world who replenish minutes as they use them.
“As a mobile phone service provider Globe Telecom keeps people connected. This collaboration for international top-up provides us an opportunity to give millions of Filipinos in the U.S. a different way to stay connected to friends and family back home,” said Ferdinand De la Cruz, head of Consumer Sales at Globe Telecom. “It also helps Globe extend our reloading channels beyond the traditional sales network.”
U.S. customers can visit any MoneyGram agent location to purchase airtime credits for family and friends in the Philippines and load credits in various denominations in USD. The cell phone user will receive a text message that their phone has been topped up for a specific amount.
Source: Business Wire