The widespread use of mobile phones has created a business opportunity, like all sort of banking transaction can be made easy by sitting at home with your mobile phones.vodaphone announced that it would launch a money transfer device in afghanisthan after the similar execution of the plan in kenya.As estimated 1.6 million people have started to use this scheme in kenya.In a country of 10 million mobile users,there are 400 bank outlets and 600 automatic teller machines.The association of GSM industries estimates that a lot of such scemes are in operation and it will be launced soon.This system in mobiles serve as a boon for many people,including businessmen.
vodaphone has planned to launch cash transfer services soon in india and other african countries.one can send money, withdraw cash,pay your bills or loans within seconds without any complexity.The network operator acts as amoney transfer agent for the subscriber.The user deposits money and then sends an SMS to a person who can go to a phone shop anywhere in the country and take the amount mentioned in the message.
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