MasterCard will operate the system in which remittances will be sent as text messages. For people without bank accounts, the credit can be converted into pre-paid cards which can then be used to buy things. “It will revolutionise the money-transfer business”, said Sunil Bharti Mittal, boss of Bharti Airtel, one of India's biggest mobile operators... displayed 300 characters
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“It will revolutionise the money-transfer business”, said Sunil Bharti Mittal, boss of Bharti Airtel, one of India's biggest mobile operators. The idea is to tap into the more than $250 billion a year that immigrants and migrant workers send to relatives and friends back home.
Buying a train ticket, picking up a newspaper and grabbing a cup of coffee on the way to work with just a wave of your handset promises to be a lot more convenient than fumbling for money and waiting for change, or using a credit or debit card and having to tap in numbers or sign a slip of paper... displayed next 300 characters
The amount of trade conducted electronically has grown extraordinarily since the spread of the Internet. A wide variety of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems...
MasterCard will operate the system in which remittances will be sent as text messages. For people without bank accounts, the credit can be converted into pre-paid cards which can then be used to buy things...
In 1999, when Euro appeared, several new payment systems had been implemented in Europe. The most significant of them was TARGET. It allowed to transfer large sums of money within EU at a very high speed...
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