Sending Money Through Cell Phone Numbers

It's not clear from article how this works. Does the recipient have to be using the same cell phone company that you are? Does the recipient have to set up an account, like PayPal, to receive the money? Another good idea and one that gets better as more and more people get a cell phone.

"Ubiquitous Banking Interface (UBI)" is the system that this works on. I'm going to file away that name and variations ("Everywhere Banking") for possible future use.