Cell phones double as electronic wallets – Yahoo! News
Mobile banking services, which are also catching on in Kenya and South Africa, enable people who don’t have bank accounts to transfer money easily, quickly and safely. It’s spreading in the developing world because mobile phones are much more common than bank accounts.
The system is particularly useful for the 8 million Filipinos — 10 percent of the country’s citizens — who work overseas and send money home, like Dennis’ mother, Anna Tiangco. Previously, she sent money via a bank wire transfer, which costs $2.50 and takes two days to clear. The cell phone method costs only 13 cents and is nearly instantaneous.
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2 Comments
Floyd Buenavente
Wow this is really goodnews!
text messaging
we use G-cash or Smart Money in the Philippines
LIRNEasia research presented at National Conference on COVID 19 in Sri Lanka
LIRNEasia researchers presented work on distance education and risk communication at Sri Lanka's National Conference on COVID-19 in January 2021.
Vaccine priority setting: By men or by machines?
The fears are that those who are connected or corrupt will get free vaccines, even if they are not on the priority list; or that vaccines obtained for the free channel will be diverted to the pay channel, allowing private providers to make excessive profits which will feed the corruption.
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