A new service in the US, TextPayMe, which is said to rival that of Paypal has been widely covered by western blogs for weeks now.
I think I need not explain how this system works as we already know much about Smart Money, Smart Padala and G-Cash.
TextPayMe is actually giving away $5PHP 293INR 424EUR 5CNY 36 for each new subscribers and sending a XBox 360 to people who refer 36 new users of their service.
Yeah, yeah, we’re ahead of them by leaps and years, but we we have enough volume? A commenter named JLP over at PTB says so.
The only other advantage I saw in TextPayMe is they serve across several mobile providers unlike here where exclusivity is a big hindrance. Makes you wonder if these telcos (Smart & Globe) are merely crunching value-added services not for its individual merit and profitability but only to retain or attract more customers to switch over.
YugaTech.com is the largest and longest-running technology site in the Philippines. Originally established in October 2002, the site was transformed into a full-fledged technology platform in 2005.
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Miguel says:
Here’s an interesting paper from the World Bank and the GSM Association about mobile micro-payment success in the Philippines.