M-Via Lets You Transfer Money Overseas From Any Phone — at a Low Cost

Venture Beat on M-Via, a young mobile phone payment service that lets you send or receive money internationally on any type of phone — even if you and your recipients don’t have bank accounts.

m-Via’s tagline is “Sending cash, now as easy as making a call,” or, alternatively, “Think PayPal for the unbanked with viral distribution via SMS.”

... Right now, the startup is focusing on transactions between Mexico and the U.S. It operates 95 “hot spots” in California right now, and is launching new ones in Texas, Arizona, Illinois, New York, and New Jersey this year.

Eventually, it will turn its attention to India, China and the Philippines, where people receive hundreds of millions every year from family members or friends in the U.S.

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emily | 1:38 PM | SMS and Banking |
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