Enabling the Overseas Filipino Workers to Remit Conveniently Anytime
About
Applicant name: PLDT 1528 Limited, Hong Kong (PLDT HK)
Innovation Name: Smart World Remit App
Innovation Type: Service
Website: https://www.smartworld247.com/
Mission: Enabling the Overseas Filipino Workers to Remit Conveniently Anytime
Innovation Description: Smart World Remit App solves the pain points of Overseas Filipino Workers (OFs) in Hong Kong in remitting money to their families in the Philippines:(1) Inability to send remittance immediately in cases of emergency;(2) Waste of time and money (2-3 hours) commuting to and lining-up in remittance centers during the remitter’s only day-off in a week;(3) No immediate available communication between remitter and beneficiary;(4) The OFs are being left behind the global trend of online shopping since they are mostly non-carded;(5) The remittances are not spent on essential expenditures by their beneficiary;(6) The OFs, after ending their work contract, goes back to the Philippines without a living. To solve these pain points, the service provided: (1) remittance anywhere, anytime;(2) Free 200 mins of International Calls;(3) Prepaid Telco Load as online currency;(4) remitter can control and define where the money is spent;(5) making the remitter a Retailer of PLDT products
Please see full Service Description at http://docdro.id/EAyV4aW
Status of Innovation: In-market
Innovation Active: September 23, 2017
Applicant Type: Private Company
Headquarter City: Hong Kong
Headquarter Country: Hong Kong
Year Founded: 2002
Main Category
Main Category Choice: Remittances For Social Impact
Why do you think you should win this category?:
The service will address the top pain points of the 200,000 Overseas Filipino Workers (OFs) in Hong Kong as it will provide:(A) immediate access to remittance facility anywhere, anytime and can be funded in any 7-11 convenience stores 24-hours;(B) immediate communication between the remitter and family by using the Free 200 mins of International calls to PLDT landline or Smart mobile customers in the Philippines per remittance. This is the key differentiator of the service;(C) Financial Inclusion by using the Prepaid Telco Load as online currency;(D) Purposeful Remittance since remitter can control and define where the money is spent;(E) The OFs goes back to the Philippines without a living, this innovation will be solving this problem by making the remitter a Retailer of PLDT Global products.
Upon launch of the service last September 23, 2017 up to February 2018, nearly 4,000 customers registered which generated over HK$4 Million worth of remittances.
Please see full Service Description at http://docdro.id/EAyV4aW
Secondary Category
Secondary Category Choice: Remittance Synergies
Why do you think you should win this category?
The innovation, a mobile remittance app that can be funded in any 7-11 stores plus free 200 International Long Distance minutes of calls to reach 60 million people, is a synergy of 3 companies: (1)PLDT 1528 Ltd (or PLDT HK) – Smart World Remittance App service provider and marketing arm;(2) Tap & Go – stored value facility that links the cash-in facility of 7-11 stores and the remittance App; (3) PLDT Inc. (through PLDT Global Corporation) – the dominant telecom service provider in the Philippines that connects the International Long Distance calls from Hong Kong to the Philippines.
The synergy is unique since PLDT Inc. and PLDT HK are established telecom companies in the Philippines and Hong Kong respectively, hence, venturing into remittance business, a business that it not known for and beyond its area of expertise, just to address the pain points of its customers. This venture was further strengthened by its partnership with Tap & Go, which is also a company not familiar with the remittance business.
Team Members
Full Name: Alberto Reyes
Role: Head, Core Products and Financial Services, PLDT Global (Phils.) Corporation
Linkedin: Https://www.likedin.com/in/
Full Name: Joel Lumanlan
Role: Regional Head, Asia-Pacific, PLDT Global (Phils.) Corporation and Vice President, Marketing Operations, Smart Communications, Inc.
Link: https://www.linkedin.com/in/
Full Name: Jay Sumulong
Role: Marketing Head, Asia-Pacific, PLDT Global (Phils.) Corporation and Marketing Operations Manager, Smart Communications, Inc.
Link: https://www.linkedin.com/in/
Full Name: Clarice Asperilla
Role: Marketing Officer, Asia-Pacific, PLDT Global (Phils.) Corporation and Smart Communications, Inc.
Link: https://www.linkedin.com/in/
Supporting Links
Full Service Description – Smart World Remit App: http://docdro.id/EAyV4aW
Smart World Remit App – Pitch Deck and Publications: http://docdro.id/pMdMRVS
