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Tuesday, August 30, 2005

Cell phone banking in South Africa

USATODAY.com - Africa's cell phone boom creates a base for low-cost banking:

Each account is linked to an ATM card — upgradable to a MasterCard debit card — that can be used nationwide, and that can be used to deposit and withdraw money. The founders also envision the creation of a network of traders who will be able to make transactions in remote areas.

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