Africa introduces "mobile money"

Owners of mobile phones living in Kenya (Africa), were lucky enough: they will experience the new mobile payment system M-PESA, which was created by local mobile operator Telkom Kenya and Vodafone .

In order for the phone to work with the payment system, a special chip will be built into it, and the transfer of funds from the account to the account will be carried out using encrypted text messages. The owner of mobile cash can share money with a tribe in need or exchange it for crisp bills and hard cash.

via Internetnews.com