Danal and Mobile Payments

WSJ writes: “In South Korea, Danal’s popular service lets people charge such items, as well as tangible goods like books or cosmetics, directly to their mobile-phone bills using an authentication code they punch into their personal computer. They receive the code as a text message on their phone when they are ready to buy something online. There is no need to install special software on the phones. In heavily wired Korea, 70% of all digital content — valued at more than $1 billion last year — is charged directly to cellphone bills instead of traditional credit cards, the company says.”

In India, mchek, in which I have an investment, is also working in the mobile payments space.

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Rajesh Jain

An Entrepreneur based in Mumbai, India.