Banks will become phone companies and telecom companies will become banks. Mobile payment systems, micropayments, mobile phone credit card transactions and loans. Economic impact of remittances from foreign workers using SMS credit to avoid foreign exchange transaction costs. How biometrics fingerprint technology will allow large mobile phone payments. Commissions and interest charges on loans. Impact of revenues from American Express, Visa, Delta, Access, Mastercard moving to mobile phone transactions. Conference keynote speaker and Futurist Dr Patrick Dixon.

Many telecom companies are going to have to rethink their oursourcing and offshoring strategies in countries like India because of rapid wage inflation which is eroding cost differences, and making outsourcing less econonimically viable. Video comment by Dr Patrick Dixon