The growth of Mobile Money Transfer

Image via WikipediaThe FT reports:

The rise of the mobile phone as a bank account substitute in Africa was reinforced on Monday as Vodafone announced the launch of a cross-border mobile money transfer service between the UK and Kenya.The service will allow remittances to be sent from selected Western Union branches in the UK to Safaricom subscribers in Kenya, who can then redeem the money or send it on to another mobile user. The maximum amount that can be transferred internationally is £200 ($296)...[continue reading]