E-wallet: Pros of SMART Money (Part 1)

July 15, 2013 | Posted by: Moneymax | Lifestyle

July 15, 2013

The SMART Money technology is an electronic wallet that can replace the role of a regular bank account. Users can perform bank account transactions, in-store or online purchases and remittance services with the SMART Money technology.
Are you curious about the reason behind the accelerating rates of mobile-banking adoptions, especially the SMART Money technology among the Filipinos?

Mobile-to-Mobile Money Transfer

With PasaPera, more than 45 million subscribers of Smart Communications Inc. can now directly receive funds on their mobile phones from any Smart Money accounts. The funds from the Smart Money accounts can be used to reload Smart Prepaid airtime.
Here are the steps to activate and use the PasaPera facility:
1. At the SMART Money Menu, select the ‘Transfer’ option
2. The page of ‘Enter Card/ Mobile Number’ will be shown. (Skip to step 3 if this page is shown on the screen)
3. If you can’t proceed to the second step as only ‘Enter Card Number’ is shown on the screen, please text ‘transfer menu’ to 343 to receive an updated Smart Money Menu and proceed to step 4.
4. Key in the beneficiary’s 11-digit Smart or Talk ‘N Text mobile number, the amount, and the Wireless Personal Identification Number (W-PIN).
Both the sender and receiver will receive the SMS notifications once funds have been credited to the designated Smart number.

Cashless Shopping

As the SMART Money MasterCard is a debit card, it can be used in 350,000 MasterCard-accepting websites. At the same time, with the SMART Money’s award-winning Lock/Unlock features, we can shop online without fear of worry about online fraud.
(If you wish to know further about the Lock/Unlock features, please proceed to The Security Features of The SMART Money.)
Apart from that, since the SMART Money MasterCard is issued by the Banco de Oro (BDO) and accredited by MasterCard, we can enjoy convenient and hassle-free cashless shopping at over 32 million MasterCard establishments worldwide.

The NFC Technology: Tap2Pay

The Tap2Pay by SMART Money is a mobile payment service that uses Near Field Communication (NFC) technology. With this service, SMART Money account holders can purchase goods and services by simply tapping their NFC-enabled phones on the marked Tap2Pay posters.
At the counter, users should tap their cellphones on the ‘Tap here’ icons located on marked Tap2Pay posters after turning on the NFC connectivity of the mobile phones. They will receive a message that confirms their payments and a text notification will be sent to the phones for every successful transaction.

Do You Want to Know More About the SMART Money?

If you wish to know more about the NFC Technology, please proceed to the Mobile Wallet Technology to gain better understandings of the applications of NFC technology on the mobile commerce and bank transactions.