Foreigners discuss mobile money in SA

source: Fin24
Aug 05 2010 22:05

Johannesburg – Senior regulators and supervisors from 17 central banks and other regulatory authorities will meet over three days to deliberate the key challenges and opportunities posed by innovative new financial services on offer by mobile network operators (MNO) in South Africa and around the world.

Sending money to relatives or paying bills using a mobile phone is as easy and affordable as sending a text message in some countries. Some MNOs have even partnered with commercial banks to offer clients basic banking services such as deposits and withdrawals via their mobile network platform.

“Recent developments in mobile-phone enabled financial services suggest that we are on the cusp of a revolution in the way we [continue reading]

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