PLDT Group to relaunch Smart Money e-money service

PLDT Group plans to relaunch its e-money service, Smart Money, in 2025. This move aims to give Filipinos an alternative to GCash, which is currently the leading e-wallet in the market. The service promises cheaper transaction fees and is expected to appeal to users burdened by current costs. Dheeraj Kumar, a top official at PLDT’s Smart Communications, revealed that they have applied for necessary licenses with the Bangko Sentral ng Pilipinas. They hope to receive approval soon. Kumar noted that the new e-wallet would significantly change the market with lower fees for common transactions like cashing in and sending money. Smart Money was previously a popular platform but has seen a decline in usage. GCash now boasts around 94 million users. Despite this, PLDT believes there is still room to attract users with more affordable options. Currently, Smart Money is being tested by selected employees from various PLDT companies. The revival follows the return of Anastacio Martirez as Smart’s chief operating officer. The Smart Money app is already available for download and is rebranded as Smart Padala. Kumar expressed confidence that many users still remember the original Smart Padala and may welcome its return.