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Wednesday, July 15, 2009

Person-to-person mobile payments to overtake mobile banking

A forecast from ABI Research says nearly three times more people worldwide will use their mobile phones to make person-to-person payments than those who’ll use their mobile phones for conventional banking functions by the end of 2011. It reckons 170 million mobile subscribers will make person-to-person payments in that year – and says, in many cases, this is the first financial service that previously ‘unbanked’ people will use. [Press release]

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