In countries where the banking system isn’t as developed as it is in the US and other long established countries it can be hard for people to get access to banks and to transfer money for paying bills and buying things. Many mobile phone companies are working hard to get an infrastructure in place that will allow users to transfer money using their mobile phone.
Vodafone has announced that it is launching a new money transfer service starting in Qatar. The service is called Vodafone Money Transfer and it allows the user to make international money remittances directly from their mobile device, in conjunction with Qatar Central Bank. The goal of the project is to provide financial services to low-income groups.
The user of the new service will be able to send money using the mobile device to any GCASH enabled mobile phone in the Philippines or send money to any bank account or for collection at any GCASH Remit outlet. The transaction is secured with a PIN number and the sender and receiver are notified with text messages of the transaction.