Transfer Money to Latin America from Your Mobile Phone
April 2nd, 2008 MobileFreak
According to my hometown paper, Latin American immigrants can transfer money back home using their mobile phone. What separates this service is that the person receiving the money in Colombia or Mexico, for example, can pick up the cash from a local Western Union office or agent.
An arrangement between Western Union, Radio Shack, and MVNO Trumpet Mobile have made it possible.
Here is the summary from the article:
Under the plan, a customer could buy a Trumpet Mobile phone, which costs $29.99 at Radio Shack. The user can load the phone with money through Western Union. To send money to a relative Nicaragua, for example, a customer would specify the amount and the recipient over the phone. The money would then be debited from the customer’s account and routed to a local agent in Nicaragua, who would dispense the money to the relative.
Read more about the mobile money transfer service here.
Entry Filed under: Banking, News
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