BIZ BUZZ: Surprise! MVP revives Smart Money
Here is a part of the description of the app in the Play Store.
- Hassle-free Payment: Smart Money takes convenience to the next level by letting you securely organize your payment methods. No more switching between apps or manually entering details every time! Connect your Smart Money account with GCash, Maya, GoTyme, or use Visa and Mastercard for hassle-free payments. Whether you're transferring money to a bank account or making an online payment, you can choose from multiple saved payment methods instantly.
This means that they recognize GCash and their own app Maya as part of the apps you would use alongside this.
I guess after GCash having people lose money where even a celebrity was affected and the recent issue with Maya where people lost money as well they want to do something different.
I think having a new app to shake the competition is a welcome change. Kapag kasi walang stable competition ang isang company nagiging complacent siya.
An unrelated example is with ABS and GMA. While TV is eventually bound to die, I feel like the situation would have been slightly not that bad if ABS did not shutdown because it would at least make GMA feel the need to compete and not just keep on claiming they are number one because they have a franchise. Network wars aside, the competition actually helped both of them.
With GCash, I feel like there are too many negatives that they won't change. People could argue Maya exists the same way ABS is there just without a franchise, but I feel like that really isn't enough since Maya is more meant to be a bank just like how ABS is more of a content creator and not a network despite having content that goes head to head with GMA. Again people will say, isn't it the same? I personally don't think it is.
Smart having a service directly focused on being a digital wallet if done right would be beneficial for both Globe and Smart.