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With the significant expansion of mobile phone usage in African countries where there is little bank infrastructure, such as South Africa, Nigeria and Democratic Republic of Congo, “the use of cell phone banking is becoming relevant, ” said Jeremy Leach, executive director of FinMark Trust, a research think tank in South Africa. For example, Wizzit, a Sandton, South Africa, mobile banking subsidiary of the South African Bank of Athens Ltd., launched its mobile phone banking service two years ago and has processed 250,000 transactions, according to a recent FinMark Trust survey. Other mobile banking services include inContact, from First National Bank of South Africa Ltd., and MobileMoney.

