Banco do Brasil expands mobile phone credit service

Telecomworldwire, March 24, 2006

TELECOMWORLDWIRE-24 March 2006-Banco do Brasil expands mobile phone credit service(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

Banco do Brasil, a government controlled retail bank in Brazil, has unveiled plans to widen access to its mobile phone credit service.

The service has been trialled during a pilot project earlier this year, when 170,000 customers had access to mobile phone credit and information services. The new stage starts straight away and will enable bank customers to use their mobile phones to ask for credit lines, check their accounts and request transfers.

The bank confirmed that the service will be offered to many of its 22m clients, with at least 3m expected to sign up for the service. The service will also be introduced to Japan, where Banco do Brasil platforms are used by Brazilian residents to send money to Brazil.

According to Banco do Brasil the service will lower costs for the bank due to the lower cost of mobile phone use in comparison to ATM units, and is expected to have a positive effect on its credit portfolio.

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