Transfer Funds by Simply Dialing

I’m still in the Gee Whiz phase of my learning about the mobile phone industry. The ease at which someone uses SMS to text a cab reservation in Helsinki taught me to look at SMS as a command line for the real world and today I’m learning about mobile SMS banking.

My colleague Jan Chipchase (his blog, Future Perfect, which covers culture and technology is fascinating btw) points to a video which (complete with “natty soundtrack”) shows SMS fund transfers in action in rural India.

Just as parts of Eastern Europe skipped over laying telephone cables and went straight to cellular, the third world, where there is no established banking infrastructure, is jumping ahead to mobile electronic banking.

Related articles by Zemanta

• Cell phone money transfers going international