Large mobile communication operators employ mobile financial service departments who build on existing voice, data and technological services. The phone owner can then purchase products by typing in their phone number and having it charged to their monthly bill.
What's missing is the plastic credit card. Mobile phones seem to be on track transcending plastic exchanges. Phone software will place a payment information page under the account settings screen. Phone owners will see a prompt that indicates phone billing is available - allowing them to choose this application.
This is expected to strengthen sales of music, books, games and other apps. This in part is why the Credit Bureau's have began to collect cell phone information on individual phone users. This technological expansion is significant for moving a population in to a global economy.
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