This is my new friend Roman Martinez. In Venezeula, Diemo has launched mobile banking with GSM network provider Digitel. The service gives remote and geerally poor residents the ability to transfer money wirelessly via a cell phone to a store where a third party receives the cash.

The service is available to any of Digitel’s 6 million customers in Venezuela. In coming years, Martinez, the CEO, said it would make sense to offer mobile banking in U.S. cities such as Miami, where there are large numbers of residents who have no bank account and no easy way to establish credit.

John Hope Bryant reporting by iPhone from the World Economic Forum in Latin America.
Mobile Remittances in Venezuela

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