The global coronavirus disease 2019 (COVID-19) pandemic has accelerated the adoption of fintech solutions across a wide swath of industries as the Bangko Sentral ng Pilipinas granted its initial endorsement Smart Asset Managers to proceed with the registration with the Securities and Exchange Commission and other government agencies for amenabilities.
The SAM Digital E-wallet is a subscription-based platform, shares and provides economic opportunity that has recently expanded its operations to the Philippines. SAM Digital Technologies is the parent entity of SAM and it’s registered as digital currency exchanger in Australia under AUSTRAC. SAM is into digital and conventional businesses.
Rommel Santos, SAM founder said he “wants to widen the company base in the country to help his fellowmen,” as he sees how financial technology or fintech is slowly becoming more inclusive in recent years.
Santos said he has a vibrant outlook for e-commerce in the Philippines, specifically for online businesses, which is expected to grow approximately five times from US$1.1 billion in 2015 to US$4.6 billion by 2025. Subscribers from Malaysia, Indonesia, Japan and other southeast Asian countries along with those in Europe and Saudi Arabia, have active participation in SAM.
Santos, a Philippine-born New Zealander based in Australia says that with a minimum subscription of $20 or P1k, a subscriber gets to be rewarded daily as SAM’s appreciation for subscribing. The reward is up to 15% monthly from one’s subscription.
SAM’s aim is to reverse the conventional method of entrepreneurial journey through economy sharing in which a subscriber can directly engage in conventional business if he so desires.
Under SAMPD, other SAM businesses include SAM Ride, SAM Delivery, Remjon Petroleum, SAM Remittance, among others.
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