Mobile money transfer service is coming soon

Mobile and banking service providers are planning to work together to support and promote the development of mobile banking services.

The goal of this cooperation plan simplifies procedures and facilitates hundreds of thousands of immigrants and overseas workers in sending money to relatives. Not only that, this plan also helps reduce the cost of sending money to employees from 24% to less than 50 USD for one transfer.

" At present, there are only about 1 billion people in the world with bank accounts. Meanwhile, the number of global mobile phone users is about to hit the 3 billion mark. Sending money via mobile phone service will be it's extremely convenient for those who don't have accounts , "said Ben Soppitt, director of the growing market research project of the Global GSM Association.

It is expected that about 19 mobile network service providers in more than 100 countries will join to form this mobile payment alliance group. The total number of customers of these networks is currently about 600 million. This figure will be expected to double rapidly in 2012. Approximately 1.5 billion people, bringing the remittance market value tripled to about $ 1 trillion.

Network service providers are currently looking for partners who are banks at both national and regional levels to support the new service. MasterCard will act as a payment hub linking all markets and liquidity systems between network service providers and banks.

If successful, users will be able to send money directly from mobile phones from one country to another in the same country as sending an SMS text message.

" We are confident that this service will be a leap in the mobile commerce industry ," said Sunil Bharti Mittal - President and CEO of Indian telecom service provider Bharti Airtel - identify.

" This service will truly be a completely new revolution in the world money transfer industry thanks to the ease of use and low cost advantages that bring many benefits to users in developing countries. " .

Hoang Dung