Mexicans to use cell phones to pay stores and taxis

Mexicans will soon be able to pay for small purchases such as restaurant meals and taxi rides using their mobile telephones, the country's banks said on Monday, writes The Washington Post.

"Telephone operators such as Telefonica and Iusacell are teaming up with big banks such as Citigroup and BBVA to launch the new service.

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."

emily | 8:30 AM | SMS and Banking |
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