Scaling Innovations in Mobile Money - Manila

The Scaling Innovations in Mobile Money (SIMM) Project is a two-year initiative that is capitalizing on the past efforts of the U.S. Agency for International Development (USAID) to expand access to financial services through new technologies. By granting the poor and unbanked access to financial resources, they are able to build assets, increase resilience to economic shocks, and participate more actively in the formal economy. Mobile money (m-money) can accelerate the Philippines' progress towards these development goals, as only 26 percent of Filipinos currently have access to formal financial channels. Additionally, 610 out of 1,635 municipalities lack banks. This makes m-money an attractive and secure option for reaching marginalized populations with significant developmental impact.  

Show more

It also offers the Government of the Philippines greater transparency and accountability in financial transactions.