http://www.bdafrica.com/index.php?option=com_content&task=view&id=3880&Itemid=5822 Transferring money via mobile fone was not developed at MIT but right here in Africa...and the service is now rolling beyond Africa. Kudos to the pioneers making life this simple for us. Mobile firms set to transfer cash abroad Written by Okuttah Mark *October 25, 2007:* Mobile phone operators in Africa have entered into a partnership agreement with Western Union to facilitate electronic transfer of money transfer across the national borders by mid next year. The partnership paves the way for the development of a commercial and technical framework to be used by mobile operators to facilitate high frequency money transfers using mobile phones. Initial roll-out of the service is expected to kick off in the second quarter of 2008. If successful, Kenya's two mobile operators Safaricom and Celtel will be able to expand their reach to Kenyans in the diaspora with the electronic money transfer services. Safaricom in partnership with Vodafone was the first to roll out mobile phone based electronic money transfer services that have proved to be a success especially among the un banked. Safaricom operates M-pesa while Celtel has Sokotele. Both networks are working on modalities of expanding their services beyond the national borders. Since its launch early this year, M-pesa has attracted 700,000 users and handled Sh3 billion worth of transactions. The new system combines key elements of both Western Union's electronic money transfer system and the GSMA's money transfer programme. Electronic services have transformed the money transfer services making it simple, quick and affordable for more users sending small amounts of money.