TimesToCome Mobile

iOS apps and tips, tricks and tools for smart phones

Here’s a way to send money to your college students

SAN MIGUEL, Philippines – It’s Thursday, so 18-year-old Dennis Tiangco is off to a bank to collect his weekly allowance, zapped by his mother — who’s working in Hong Kong — to his electronic wallet: his cell phone.
Sauntering into a branch of GM Bank in the town of San Miguel, Tiangco fills out a form, sends a text message via his phone to a bank line dedicated to the service.In a matter of seconds, the transaction is approved and the teller gives him $54, minus a 1 percent fee. He doesn’t need a bank account to retrieve the money. . . [ read more Cell phones double as electronic wallets ]

Implimentations are not as nicely set up in the US. We have Pay me now which allows you to send small amounts by text but then requires a phone call to verify your pin number.

And Pay Pal which also requires confirmation of a pin number but allows you text it. I think many of us now have PayPal accounts making PayPal the best option we have now.