Telefónica To Offer Mobile Banking

Spanish mobile giant Telefónica has said it will launch a mobile banking (m-banking) initiative for its Latin America operations in partnership with the Inter-American Development Bank (IADB). The operator has mobile units in eight South American and four Central American countries, as well as Mexico, with more than 100.5mn mobile subscribers at the end of 2007. Telefónica aims to bring m-banking services to the 175mn people in Latin America that have mobile phones but no banking access.

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