Mobile phones to replace hard cash in Mexico for small payements (Mexico)Tech savvy teenagers of Mexicans will soon be able to use their mobile phones for making small payements such as restaurant meals and taxi rides. Mobile operators like Telefonica SA and Iusacell are teaming up with banks such as Citigroup and BBVA to instigate the service, targeting technology savvy teenagers and anticipated to introduce the service soon.
Roberto Rodriguez, in charge of the service, said Cell phone users will be able to have their bank link their savings account to their telephone so they can make payments to participating stores, restaurants and taxis by sending a text message.
America Movil’s Telcel has yet to sign up with bank though it accounts for more than two-thirds of Mexico’s mobile pones.
In a country like Japan, using mobile phones as a medium to purchase items such as train tickets to purchase items is quite common but it is yet pace up in United States.
