Saturday, October 25

Replacing wallets with mobile phones

Such technology has been around for years. It has failed to take off, however, in large part because so many firms have fingers in the mobile-payment pie, and often block others from grabbing a big piece of it.

Mobile phones have already enabled poor countries to leapfrog a few stages of development in telecoms and, in some cases, finance. Cheap mobile payments will allow them to jump further.

Read the full story at the Economist