Mexicans will quite soon be able to pay for small bills via their mobile phone according to the countries bank.

Telephone operators Telefonica SA and Lusacell has struck up a deal with Mexico’s largest banks including BBVA and Citigroup to launch the new service which will be targeted towards technology aware teenagers over the next few months.

With the service, mobile phone users will be able to get their bank to link their savings account to their mobile phone and thus allow payment at participating venues, taxis and restaurants simply by sending a text message.

As yet though Latin America’s mobile giant America Movil Telcel has not signed up to the deal and they account for two-thirds of Mexico’s mobile phones.

The use of mobile phones to purchase products from vending machines, and train tickets is commonplace in Japan, but as yet this new way of paying bills has yet to catch on in the United States.

Source — Reuters via Pocket-lint