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Services to transfer cash by text message have been around for some years.
Mobile-banking systems, such as M-PESA, let people transfer cash using their phones.
(It is illegal for buyers and sellers to transfer cash or assets without properly notifying the lender).
At Morton's, the Steakhouse, the wine is put in the kind of plastic envelope that banks use to transfer cash.
Some developers envision the eventual use of cell phones to make major purchases and transfer cash from bank accounts.
One world-renowned success story is Kenyan company M-Pesa, which allows people to transfer cash using their phones – and the model has been swiftly adopted elsewhere.
Check your accounts, set up and make payments, transfer cash between accounts, request an overdraft extension and locate your nearest branches and ATMs.
Similar(4)
Transferring cash to households, while seemingly simple, requires significant implementation capabilities.
"It's really like transferring cash around the Internet," Mr. Jamieson said.
These included transferring cash to a bank he owned in the Turkish Republic of Northern Cyprus.
Mexico, for example, runs a programme called PROCAMPO which transfers cash to poor farmers.
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