Published: 19 Dec 12 15:28 CET | Print version
Online: http://www.thelocal.se/45172/20121219/
Sweden’s major banks have joined forces to launch an app allowing users to transfer money in real time using mobile technology, simplifying restaurant bill-paying and moving Sweden one step closer to being a cashless society.
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Some experts from spain and Netherlands had to travel to kenya and learn more about it ,thus they introduced it to their countries.
Furthermore its so advanced now such that you can move your money from bank to bank and from one mobile fon to another persons bank account ,pay bills, get loans,get airtime credit on loan to pay later etc.
BRAVO KENYA!, BRAVO AFRICA.
As my friends in #1 and #2 have said this technology has been in use in Africa for a long time. M-pesa has been available in Kenya for at least a decade. In Southern Africa, it has been available in Namibia, South Africa and Zimbabwe!
The basis of the system is that sometimes people in these Africa countries are poor and unbanked, and the system thrives in such economies hence you find it works in countries like Zimbabwe. To a certain extent, you confirm it here too ""People have smaller amounts of money to transfer and often don't want to use cash." In the African countries like Zimbabwe, its not a question of wanting to use cash but that the cash is just not available.
The system has also thrived because the mobile phone as a technology is probably the most widespread means of technology in poorer economies and the penetration ratios are high...
Just thought i would put my tewo cents worth.....
their latest trick to make cash was to remove atm's from airports. cant have people getting access to their money.
cant see them embracing technology like this.
good news though. australia is to get an eticket system similar to swedens for public transport soon. wow. no phone app though.