Smart Communications to provide mobile banking services to NATCCO’s member cooperatives

Smart e-Money, Inc. (SEMI), a subsidiary of Smart Communications, has partnered with the National Confederation of Cooperatives (NATCCO) to provide mobile banking services to the latter’s member cooperatives nationwide. The service cost is minimal, with a one-time joining fee and a recurring annual fee for unlimited mobile transactions. This mobile banking partnership is supported by the United States Agency for International Development under the Scaling Innovations in Mobile Money project, a two-year initiative that builds on micro-enterprise access and mobile banking to expand financial services through new technologies. NATCCO is the biggest federation of cooperatives in the Philippines, with over 2 million individual members from 612 rural-and urban-based cooperatives