At last, the mobile telecom industry has come up with a credible challenge to the banking industry. For many years now, mobile operators and MSPs have been dabbling with financial products and payment services.
Now, mobile goliath Nokia has launched 'Nokia Money' - the new world currency? Nokia claims that there are only 1.6 Billion bank accounts to the 4 billion mobile phones in circulation. So logically, mobile operators have a head start.
See http://dailymobile.se/2009/08/26/nokia-money-a-new-mobile-financial-service-enables-financial-management-and-payments-from-a-mobile-phone/
for details.
Well, from my viewpoint, any electronic currency that replaces paper money is welcome.
Are we looking at a new world financial payments order?