Something Mobile rolls out SMS-based remittance service

London-based Something Mobile Ltd has launched Something Money, a unique global payment and remittance service. The service is aimed at abling anyone to transfer money quickly and cost effectively within the UK or abroad. Initially the service will offer online UK and international money transfer where users can send or move funds either from the web or by simply texting the amount they wish to send via their mobile phone. Soon the Something Life card will be added to the service; this is a pre-paid MasterCard which will allow the user to pre-load money for use as a payment card, to transfer money or to withdraw cash from an ATM. With the Something Life card, money can be transferred directly to a bank account, or another Something Life card, making the money available for instant withdrawal from an ATM or ready for use as a payment card anywhere that MasterCard is accepted. The Something Life card works by the user having an e-wallet on their PC which can be controlled by their mobile phone using a standard SMS. The significant benefit is that the user does not have to be in front of their PC, visit an agent location or download any cumbersome applications in order to set up the service and send money. The service will cost £29.99 per annum, which will include free money transfer within the UK. International money transfers will be charged at a low cost, flat rate per transaction regardless of the amount being transferred making the service one of the most cost efficient methods of transferring money internationally. The service will initially launch in the UK and Malaysia and the intention is to rollout to additional destinations.