Smart Communications gears up to relaunch Smart Money

MANILA, Philippines — Smart Communications is getting closer to relaunching Smart Money, starting with an MVP Group employee test program.

According to Smart Communications Chief Anastacio "Boy" Martirez, the trial, which includes businesses including Metro Pacific Investments Corp. (MPIC), PLDT Inc., Meralco, and digital bank Maya, will inform the company's plans for a wider rollout.

Originally introduced in the early 2000s, Smart Money was discontinued in favor of PayMaya, now rebranded as Maya, one of six digital banks licensed by the Bangko Sentral ng Pilipinas. 

Martirez emphasized that the goal is to restore Smart Money’s previous market position, highlighting its legacy as the world’s first digital wallet introduced by a telecom provider. He also expressed his confidence in its potential despite competition from GCash, operated by G-Xchange Inc., which has 94 million registered users. 

Smart Communications aims to leverage its history and market experience to regain a foothold in the digital payments sector.