P2P Mobile Money Transfer

Current Consumer Use Model Variations: 

Handset to Handset – Shared Banking 

  • SIM cards – not phones – store the personal credit data
    • A SIM card can be transferred from phone to phone enabling different people to access the funds deposited to an account and manager through the SIM card. 

Handset to Handset – NFC Enabled 

Over-the- Air (OTA) Cloud Banking 

  • NFC enabled handset integrating LBS can scan for other NFC enabled handsets integrating LBS to transfer funds. A stand-alone NFC transfer terminal is not needed. 

Handset to ATM 

  • Any mobile handset registered with a transaction service account that is partnered with an ATM network, can send money to another handset registered with the same transaction service.
  • The money is then available for withdrawal via corresponding ATM card / terminal.
    • Refill a student pre-paid credit card
    • Send a paycheck overseas
    • Refill a friends debit card 

For more information, see: 


About Mind Commerce

Analysis of telecom and ICT infrastructure, technologies, and applications.
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