Call Me Some Money Later

You may have heard of phone banks, but this is the real deal.

It was 10:33 p.m. when Dulce Amor Bandoy's cellphone beeped with her favorite kind of message.

"You have received 1,321.00 of G-Cash," read the text on her phone's glowing screen.

That meant her uncle in London had just deposited 1,321 Philippine pesos — about $26 — into her Globe Telecom cellphone account, which Bandoy uses like a bank. "My phone is now my wallet," said Bandoy, 29.

The cellphone-based system that conveys cash between Bandoy and her uncle has the potential to revolutionize the way hundreds of billions of dollars are moved around the world, according to experts who study global cash flows.It was 10:33 p.m. when Dulce Amor Bandoy's cellphone beeped with her favorite kind of message.

"You have received 1,321.00 of G-Cash," read the text on her phone's glowing screen.

That meant her uncle in London had just deposited 1,321 Philippine pesos — about $26 — into her Globe Telecom cellphone account, which Bandoy uses like a bank. "My phone is now my wallet," said Bandoy, 29.

The cellphone-based system that conveys cash between Bandoy and her uncle has the potential to revolutionize the way hundreds of billions of dollars are moved around the world, according to experts who study global cash flows.

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