Direct Carrier/bank Co-operation
In the T-Cash model the mobile phone and the phone carrier is the front end interface to the consumers. The consumer can purchase goods, transfer money to a peer, cash-out, and cash-in. A 'mini wallet' account can be opened as simply as entering *700# on the mobile phone, presumably by depositing money at a participating local merchant and the mobile phone number. Presumably other transactions are similarly accomplished by entering special codes and the phone number of the other party on the consumer's mobile phone.
Read more about this topic: Mobile Payment
Famous quotes containing the words direct, carrier and/or bank:
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