Click to Skip Ad
Closing in...
  1. Amazon Dash Smart Shelf
    15:16 Deals

    I’m obsessed with this Amazon gadget you’ve never heard of – and it&#821…

  2. Prime Day Deals 2021
    04:05 Deals

    Amazon Prime Day deals 2021: See hundreds of the best deals right here

  3. Prime Day Nest Thermostat Deal
    16:28 Deals

    The newest Nest Thermostat rarely goes on sale, but it’s $99.98 for Prime Day

  4. Prime Day Deals 2021
    04:05 Deals

    Prime Day deals 2021: See hundreds of Amazon’s best deals right here

  5. Best Prime Day Deals Under $50
    17:46 Deals

    26 of the absolute best Prime Day deals under $50

Mobile money transfer goes international; exchange funds via SMS

December 9th, 2008 at 5:59 AM

First, it was PayPal. All you needed was access to the Internet and you could pay bills and make money transfers at your computer. Now, that same type of service is going to be available via mobile phones and SMS. Mobile banking is certainly nothing new and has been around for quite some time, but you were usually limited to viewing account information, transferring funds within your own account, and making bill payments (except Obopay, which allowed transfers from user to user). Some countries support transferring money between phones, such as India and the Philippines, but other countries and carriers are taking a serious look at adopting the service for themselves. Carriers like Vodafone are teaming up with financial institutions like Western Union to make these types of transactions and services more ubiquitous. If this catches on, it’s going to make money transfers, and life in general, a whole lot easier. However, like with PayPal, there’s no doubt that security concerns might push people away for a little while.


Popular News