Smart Communications Inc on Tuesday said it will expand its mobile banking service partnerships next year.
In a briefing, Anna Marie Cruz, head of Smart’s Financial Services-Strategic Alliances Department, told reporters that the company is targeting another three to five banks through either direct connect or consortium.
At present, Smart has direct partnerships with Bank of the Philippine Islands, Metropolitan Bank and Trust Co and Banco de Oro Unibank Inc.
The telecom company also has tie-ups with nine banks through Bancnet and Megalink.
Cruz said a million out of Smart’s 50.9 million subscribers were using mobile banking at end-June.
Smart’s average monthly mobile banking transactions number two million and involve mostly balance inquiry, buying airtime load and bills payment.
Cruz said mobile transactions with BPI grew by 100 percent year-on-year since the partnership began in 2009.
The BPI-SMART Full-Mobile Banking includes features such as balance inquiry, fund transfers, bills payment, Smart prepaid airtime reloading and Smart Money reloading.
She said Smart targets to increase its Smart Money subscribers by at least 30 percent a year. Smart Money has a million active users.