Wednesday, March 07, 2007

Mobile money transfer

Some good links coming out of the mobile-society list. Here's some of the most recent:

SMS Money Transfer Goes Live In Kenya

A BBC article and the video that goes with it that shows M-Pesa first hand as well as the impact of mobile phones on Kenyan society:

From Matatu to the Masai via mobile

Thanks to Mike Grenville

ALSO - money transfer via the mobile is being used in the third world. It may be that the mobile as an electronic wallet comes there first.

Safaricom, Kenya's biggest cell phone firm, on Tuesday launched a money transfer service that will use short message services, which it said was the first of its kind in the world. Reuters reports. "The product allows its 5.8 million subscribers to use their cell phones to send money in the east African country where it is commonplace for one family member working in the city to support a whole family living in rural areas. ... Kenyans will deposit or access the money through Safaricom agents like supermarkets or shops situated all over the country. Kenya's Minister for Communication, Mutahi Kagwe, highlighted the opportunity for remote communities: "This will help people in far-flung parts of the country who have no banking services, now anyone can have a bank in their pocket."

Read more here

Thanks to Rich Ling

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