Comments on: Digital Currency and Mobile Payments Offer Benefits For Millions of User http://www.dgcmagazine.com/blog/index.php/2008/07/30/digital-currency-and-mobile-payments-offer-benefits-for-millions-of-user/ Gold is the only asset class that is not someone else's liability Thu, 15 Jul 2010 19:14:26 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Ngetha http://www.dgcmagazine.com/blog/index.php/2008/07/30/digital-currency-and-mobile-payments-offer-benefits-for-millions-of-user/comment-page-1/#comment-1000 Ngetha Mon, 18 May 2009 04:56:51 +0000 http://www.dgcmagazine.com/blog/?p=173#comment-1000 @Mark Both those that are financially excluded and included are taking advantage of the service. One of the tag lines used in advertising is that you dont need to have a bank account, so its of benefit to all, though mostly to the financially excluded (unbanked) @Mark

Both those that are financially excluded and included are taking advantage of the service. One of the tag lines used in advertising is that you dont need to have a bank account, so its of benefit to all, though mostly to the financially excluded (unbanked)

]]> By: Dave Birch http://www.dgcmagazine.com/blog/index.php/2008/07/30/digital-currency-and-mobile-payments-offer-benefits-for-millions-of-user/comment-page-1/#comment-145 Dave Birch Thu, 31 Jul 2008 18:43:03 +0000 http://www.dgcmagazine.com/blog/?p=173#comment-145 "Any self-respecting remitter today uses any number of sophisticated AML software to catch unusual or suspicious transactions," Have they ever caught anyone, apart from the Governor of New York? Whenever I read in the newspapers about criminals being captured they have stacks of cash with them, not mobile phone top-up vouchers. "Yes, money is laundered in almost every case known today - usually through the use of banks" Quite. Dave Birchs last blog post..<a href="http://blog.dgwbirch.com/?p=129" rel="nofollow">Twitter Updates for 2008-07-30</a> “Any self-respecting remitter today uses any number of sophisticated AML software to catch unusual or suspicious transactions,”

Have they ever caught anyone, apart from the Governor of New York? Whenever I read in the newspapers about criminals being captured they have stacks of cash with them, not mobile phone top-up vouchers.

“Yes, money is laundered in almost every case known today – usually through the use of banks”

Quite.

Dave Birchs last blog post..Twitter Updates for 2008-07-30

]]> By: Mark http://www.dgcmagazine.com/blog/index.php/2008/07/30/digital-currency-and-mobile-payments-offer-benefits-for-millions-of-user/comment-page-1/#comment-144 Mark Thu, 31 Jul 2008 15:54:15 +0000 http://www.dgcmagazine.com/blog/?p=173#comment-144 Paul, Thanks for the comment, I agree 100%. Mark Paul,
Thanks for the comment, I agree 100%.

Mark

]]> By: Mark http://www.dgcmagazine.com/blog/index.php/2008/07/30/digital-currency-and-mobile-payments-offer-benefits-for-millions-of-user/comment-page-1/#comment-143 Mark Thu, 31 Jul 2008 15:53:25 +0000 http://www.dgcmagazine.com/blog/?p=173#comment-143 That's good news, the users picking up the new mobile payment business, I wonder do they have bank accounts also? Or are they unbanked and taking advantage of the new technology without the bank? Mark That’s good news, the users picking up the new mobile payment business, I wonder do they have bank accounts also? Or are they unbanked and taking advantage of the new technology without the bank?
Mark

]]> By: Abhishek Rao http://www.dgcmagazine.com/blog/index.php/2008/07/30/digital-currency-and-mobile-payments-offer-benefits-for-millions-of-user/comment-page-1/#comment-139 Abhishek Rao Wed, 30 Jul 2008 18:56:58 +0000 http://www.dgcmagazine.com/blog/?p=173#comment-139 Payments through mobiles is definately a boon to a large number of people especially in emerging economies like India. Here the number of cell phone users are increasing every year, and taking advantage of this fact are banks by introducing mobile banking. Recently even Barclays bank launched Hello Money, which is especially for comman people as this can be used on any type of handset and on any network. The online demo will explain more simple features about mbanking http://www.barclays.in/channels/mobile/hello_money_demo.htm Payments through mobiles is definately a boon to a large number of people especially in emerging economies like India. Here the number of cell phone users are increasing every year, and taking advantage of this fact are banks by introducing mobile banking. Recently even Barclays bank launched Hello Money, which is especially for comman people as this can be used on any type of handset and on any network. The online demo will explain more simple features about mbanking http://www.barclays.in/channels/mobile/hello_money_demo.htm

]]> By: Paul http://www.dgcmagazine.com/blog/index.php/2008/07/30/digital-currency-and-mobile-payments-offer-benefits-for-millions-of-user/comment-page-1/#comment-138 Paul Wed, 30 Jul 2008 17:46:44 +0000 http://www.dgcmagazine.com/blog/?p=173#comment-138 In support of the article about the benefits and potential dangers in mobile payments, let me add this. There's no question that mobile remittances are becoming more popular. This has to do with adding convenience and lowering costs to users. As for money laundering and the like, most of these writers do not understand the regulatory and compliance requirements of running an MSB. Any self-respecting remitter today uses any number of sophisticated AML software to catch unusual or suspicious transactions, check black lists, etc. All transactions by licensed companies are filtered against huge databases of the company's own and sometimes other companies' as well transaction histories; they are not transmitted until approved by internal compliance teams. If someone is worried about money laundering through electronic means, he/she should look at banks. Yes, money is laundered in almost every case known today - usually through the use of banks. Try laundering a few million through a remittance company at three hundred dollars a transaction and you'll know why. In support of the article about the benefits and potential dangers in mobile payments, let me add this. There’s no question that mobile remittances are becoming more popular. This has to do with adding convenience and lowering costs to users. As for money laundering and the like, most of these writers do not understand the regulatory and compliance requirements of running an MSB. Any self-respecting remitter today uses any number of sophisticated AML software to catch unusual or suspicious transactions, check black lists, etc. All transactions by licensed companies are filtered against huge databases of the company’s own and sometimes other companies’ as well transaction histories; they are not transmitted until approved by internal compliance teams. If someone is worried about money laundering through electronic means, he/she should look at banks. Yes, money is laundered in almost every case known today – usually through the use of banks. Try laundering a few million through a remittance company at three hundred dollars a transaction and you’ll know why.

]]>