Mandarin Oriental Hotel, Washington D.C., USA
8 June 2012
On the third day of President Benigno S. Aquino III working visit in Washington, the President met with the officers of both Citi Group and the USAid, namely USAid Administrator Rajiv Shah, Vice Chair of Citi Group Jay Collins, Citi Group Country Manager Sanjiv Vohra, Maura O’neill and Gloria Steel of USAid, in Washington D.C.
In their meeting, the group discussed the proposed project investment that aims to promote mobile banking especially in the rural areas where there is limited internet coverage but a number of mobile phone users. The proposed investment is set to shift payments from manual and physical payments to the use of electronic payments which includes the use of smart-cards, mobile-money, and digital banking. The project is said to be beneficial to the client as it is cost it is cost saving, more transparent as it helps track financial flow, more secured as payments are delivered on-line free from elements and it issues receipts.
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