Mobile carriers making it easy to send money home
With tons on top of tons of content making way to the mobile space (where are all those .mobi websites?), it seems natural for payments and the processing of transactions to make their way to the mobile arena as well. But without the support of major banks involved, these efforts won't go far -- but good news is afoot. This week at 3GSM in Barcelona, mobile carriers are teaming up with banks to make it easier and cheaper to send money over the airwaves. No, you can't turn bills into RF waves or anything, but the new partnership (if it can be called that) will allow immigrants and migrant workers to send money home using mobile phones. We're not sure from the PR stuff, but everyone else won't be able to use this new "service". Just kidding -- but when sending small amounts of cash from here to there, those that make smaller piles of it need a method without fees that eat into, well, their money. Can you imagine a 24% fee for sending $50? Goodness sakes.
Filed under: Misc
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