Tigo Cash Signs Up 150,000 Subscribers

Paraguayan mobile market leader Tigo, a unit of Luxembourg's Millicom International Cellular, has announced that it has 150,000 subscriptions to its Tigo Cash service. The mobile banking (m-banking) service was launched in June 2008 and enables subscribers to use their mobiles to make payments and transfers as well as recharging mobile credit and withdrawing cash. In a country where use of traditional banking services is low, alternative methods bring many new users to the banking sector. Tigo Cash in Paraguay is the company's pilot m-banking programme, and there is the possibility that the company will launch similar programmed in other markets.

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