InsiderPH learned these projects are the revival of Smart Money and Gen Z-focused mobile brand KiQ, which were championed by ex-Smart chief operating officer Anastacio “Boy” Martirez, who resigned after a year on Oct. 21, 2025.
“The prospects of both seemed promising but are presently on hold for further evaluation,” according to a source familiar with the matter.
Smart Money revival halted
Smart Money, which Martirez hoped could overtake GCash, stopped at internal testing among employees.
The insider said the Smart Money relaunch was “delayed due to regulatory issues” before management decided to pause its implementation.
Many may recall Smart Money was once seen as a serious rival to GCash.
But the latter eventually emerged as the country’s largest and most dominant financial technology platform, especially after its partnership with China’s Ant Group in 2017 and the mass adoption seen during the pandemic.
Smart Money was also deemed an awkward fit since the group was already backing Maya, the fintech and digital bank that has since made significant strides and posted its first full year of profitability in 2025.
PLDT and parent firm First Pacific Group remain the single-largest shareholders of Maya.
KiQ under review after 9 months
Another heavily marketed project placed on hold was KiQ, a mobile brand Martirez rolled out in August, after the product "didn't gain traction upon launch", the insider explained.
KiQ was designed to “structurally” target the younger Gen Z market through app-based subscriptions and customization features, including allowing users to choose their own mobile numbers.
Smart’s wireless business regained momentum in late 2025, with revenues climbing to P21.8 billion in the fourth quarter from P20.9 billion in the second and third quarters and also above the P21.3 billion posted in the first quarter.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
