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Solving the mobile money problem in the Philippines

27/10/2014

Luis Buenaventura is Head of Product at Satoshi Citadel Industries, a Bitcoin startup operating out of the Philippines. It’s (...)
Luis Buenaventura is Head of Product at Satoshi Citadel Industries, a Bitcoin startup operating out of the Philippines. It’s a little known fact that mobile money was effectively invented in the Philippines by Smart Communications. Its Smart Money solution, launched in 2001, predates the successful M-Pesa out of Kenya by a good six years. Even GCash, a similar service operated by the second largest telco in the Philippines, was launched three years before Safaricom’s pride and joy in 2004. But although M-Pesa is clearly the runaway hit of the mobile money platforms (31 percent of Kenya’s GDP is spent on the back of their system), other... This story continues at The Next Web Luis Buenaventura is Head of Product at Satoshi Citadel Industries, a Bitcoin startup operating out of the Philippines. It’s a little known fact that mobile money was effectively invented in the Philippines by Smart Communications. Its Smart Money solution, launched in 2001, predates the successful M-Pesa out of Kenya by a good six years. Even GCash, a similar service operated by the second largest telco in the Philippines, was launched three years before Safaricom’s pride and joy in 2004. But although M-Pesa is clearly the runaway hit of the mobile money platforms (31 percent of Kenya’s GDP is spent on the back of their system), other... This story continues at The Next Web
philippinesmoneyoperatingit’smobileluisbuenaventuraheadproductsatoshi

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