Three weeks ago, we opened up a discussion in Techno Page about creative new ways in which mobile communication infrastructure could be used. I pointed out that thorough identification and registration process that mobile phone subscribers are subjected to in Sri Lanka, opens up the possibility for mobile phones to be used by their users to make payments in a way that is not very different from how credit cards or debit cards are used.
A few users wrote in demanding me to explain what I meant, so this week, I will oblige them with the details. In principle, what I pointed out was that mobile phones have the potential to be used as another method in which Electronic Funds Transfers at Point of Sale (EFTPOS) could be implemented….
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