Deals Drive Mobile Money Services

Mar 16, 2009 | BBC

A series of deals looks set to turn handsets into mobile wallets in many developing nations.

South African mobile operator MTN is launching a banking service for its customers in 21 nations that will let them transfer cash. It comes after four other initiatives were announced to help handsets carry out many basic financial transactions. One initiative is backed by Bill Gates and puts $12.5m (£8.6m) into a plan to create a mobile banking service. Read full article