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 Monday, 06 April 2009

Since the launch of mobile banking system in Colombia, the m-banking subscribers have crossed the mark of 9 million. Colombia has made an addition of 11,000 new m-banking customers per month, a report reveals. This service enables subscribers to use their mobile phones to consult their bank account balance, make money transfers and bill payments, as well as top-up prepay mobile phone accounts.

The incumbents like Comcel, Movistar and Tigo currently provide m-banking services as part of their value-added services portfolio.

The subscribers of Colombia made around 960,000 m-banking transactions, average generated by each subscriber is 8 m-banking transactions monthly.

Source: Wireless Federation.