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Overground Online

Mobile Phones to Replace Cash and Chip & Pin

UK mobile commerce will become hugely popular in 2011, experts claimed last week.

The total amount of phone-to-phone money transfers exceeded over £7bn in 2009, and that figure could rise to £40bn over the next 18 months.

The market is driven by Africa-based mobile network operators that provide money transfer and other banking services. But most of these transactions are conducted using old-fashioned handsets.

Industry insiders have warned the market will expand rapidly when similar services are made available in Britain where most handsets are modern smarthphones.

Click here to find out how

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Tags Money, Africa, banks, mobile, smartphone
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