^

Nation

Cell phones double as electronic wallets, making transferring money easy

-
September 30, 2007 | 9:54am

SAN MIGUEL (AP) - More than 5.5 million Filipinos now use their cell phones as virtual wallets, making the Philippines a leader among developing nations in providing financial transactions over mobile networks.

Mobile banking services, which are also catching on in Kenya and South Africa, enable people who don't have bank accounts to transfer money easily, quickly and safely. It's spreading in the developing world because mobile phones are much more common than bank accounts.

The system is particularly useful for the 8 million Filipinos - 10 percent of the country's citizens - who work overseas and send money home.

ACCOUNTS

AFRICA

BANK

DEVELOPING

FILIPINOS

KENYA AND SOUTH AFRICA

MILLION

MOBILE

MONEY

PHONES
  • Latest
  • Trending
Trending
Latest
Trending
abtest
abtest
BIR seizes cigarettes with P8.5 billion tax liability

BIR seizes cigarettes with P8.5 billion tax liability

By Louise Maureen Simeon | 20 hours ago
The Bureau of Internal Revenue has confiscated 11.5 million packs of illicit cigarettes with an estimated tax deficiency...
Nation
fbtw
Quiboloy transferred to children’s hospital

Quiboloy transferred to children’s hospital

By Mark Ernest Villeza | 20 hours ago
Alleged child sexual abuser Apollo Quiboloy was transferred to a children’s hospital in Quezon City for medical tests,...
Nation
fbtw

PAOCC employee caught stealing BPO worker’s phone

By Emmanuel Tupas | 1 day ago
After the viral slapping incident, the Presidential Anti-Organized Crime Commission figured in another controversy after a PAOCC employee reportedly stole the phone of a worker of the raided business process outsourcing...
Nation
fbtw
‘No PNP general, politician helped Guo escape’

‘No PNP general, politician helped Guo escape’

By Marc Jayson Cayabyab | 20 hours ago
No politician or police general helped dismissed Bamban mayor Alice Guo escape in July to Malaysia.
Nation
fbtw
MMDA revises towing, impounding guidelines

MMDA revises towing, impounding guidelines

By Ghio Ong | 20 hours ago
Amid complaints from motorists about anomalies when their stalled and illegally parked vehicles are towed, the Metropolitan...
Nation
fbtw
Latest
abtest
Metro LGUs join Q4 quake drill

Metro LGUs join Q4 quake drill

By Michael Punongbayan | 20 hours ago
National and local government offices as well as private companies joined the fourth quarter nationwide simultaneous earthquake...
Nation
fbtw

Ex-PIA chief named PTFoMS head

By Alexis Romero | 20 hours ago
President Marcos has appointed a journalist and former Philippine Information Agency chief as head of the task force created to protect media workers.
Nation
fbtw
Police: Marikina ‘kidnappings’ fake news

Police: Marikina ‘kidnappings’ fake news

By Mark Ernest Villeza | 20 hours ago
The Marikina police refuted yesterday social media posts saying that a series of kidnappings occurred in the city.
Nation
fbtw

More mayors favor BARMM poll delay

By John Unson | 20 hours ago
More local executives in the Bangsamoro Autonomous Region in Muslim Mindanao have joined the groups seeking to defer next year’s BARMM parliamentary elections to 2026.
Nation
fbtw

Dog meat trader meted 3 years in prison

By Ramon Efren Lazaro | 20 hours ago
A Bulacan court recently sentenced a dog meat trader to up to three years of imprisonment for killing dogs and selling their meat.
Nation
fbtw
Recommended
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with