Mobile Phones to Replace Cash and Chip & Pin08:20 - Monday 21 February 2011 - In Categories UK News, Money, UK Videos
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.
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