M-Commerce set to Eclipse E-Commerce

Banks always seem to get the upper hand no matter who is right or wrong. They seem to have a strangle hold on so much of what is possible in our lives. A friend steered me to a new solution that could change the way we move money.

We already use our mobile phones to do phone banking and to pay bills (well we do in Australia and Indonesia) and this saves us a lot of running around driving to banks, risking our lives on the ever more congested roads and somehow always involving lots of paper and a big energy guzzling bank building. For most Aussies, a trip to the bank is reserved for special occasions like getting down on your hands and knees to beg for a second mortgage or a bigger overdraft

Now a new phone banking solution is about to be launched internationally. It will herald in a new variant called M-Commerce..... Mobile Commerce. Leave your computer behind and get truly mobile. There are 10 times more mobile phone owners than computer owners on the planet so the potential is huge.

The cost to the end user is much lower than using a credit card and the system is inherently more secure. Every transaction is PIN based so even if the phone is lost or stolen, your money is safe.

The best part of this is YOU DONT NEED TO HAVE A BANK ACCOUNT.... that is correct. Everyone is pre approved and you can charge your account from a participating merchant or from anyone who has an account. Basic accounts are free and user to user transaction fee is $0.10 regardless of the amount.

The next best thing is that users and merchants get to earn EQUITY in the company. That is why they are calling this, SelfBank. What appeals to me is the way this concept can free up island communities in the area where we work. Transport in the islands is now so expensive that it is deeply impacting the buying power of island communities. In our 250 mile long archipelago there is ONE bank! That is right! One bank and no ATMs and you can not imagine how this hurts development. We now have cell phone cover in quite a few places so this idea can take off fast.

SelfBank Mobile have decided to throw 100 million dollars into 'cash' credits and everyone who signs up gets $100 to spend as soon as the system is on-line. Merchants get $500 credit for signing up to a $49.99/month Merchant account but if a Merchant signs up just 5 other Merchants, the monthly fee is waived forever. There is a VIP membership that generates extra bonuses for $3.99 per month and you dont start paying until the system is on-line.

SelfBank Mobile will go global and I just love the idea of getting free of the banks and those hideous interest payments. I like that SelfBank is much more environment friendly than the current banking and credit card system.

Instead of you paying the bank every time you purchase something, SelfBank pays you when you spend money.......and you get to own part of the bank.... there is a lot more to this... I'm not doing a good job of explaining it... click on the banner and take a look. Rick