The Asia Pacific region will see the biggest take up of mobile payments worldwide - reaching 3.8 percent of all mobile users by 2012. Furthermore, the World Bank estimates that $118.4bn of remittances flowed into East Asia and the Pacific in 2008. The Philippines offers one of the most accommodating regulatory environments for mobile money, with the Central Bank recognising the potential for MMT to facilitate low cost, low value, high frequency remittances which can have a positive impact on GDP.