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Innovative personal finance products

52 bytes added, 07:51, 4 January 2007
/* Idea 7 - Enable micropayments using the extensive mobile network */
== Idea 7 - Enable micropayments using the extensive mobile network ==
* Mobile network providers have a very wide payment collection system for their pre-paid and post-paid recharge cards. Such pre-paid cards are sold by vendors, who have a very wide reach.
* Mobile network providers can design a special payment card mechanishm, wherein each subscriber has a logical money account associated with their number. This money account can be updated as long as the mobile is connected to the network.
* This will enable a subscriber to pay the amount to be transferred to a 3rd party to via the pre-paid card vendor, and the . The pre-paid card vendor in turn can credit the amount in the payment card of the 3rd party.
[[Image:pre-paid card schemes in India.jpg|thumb|center|600px|Airtel India]]