Developing Countries

ESPOO, Finland, July 4/PRNewswire-FirstCall/ -- A new regulatory framework is needed to encourage financial transactions by mobile phones and transform access to financial services in developing countries, claims a new policy report 'The Transformational Potential of M-Transactions', published today (4 July 2007) by Vodafone in partnership with Nokia (NYSE: NOK) and Nokia Siemens Network.

The report, Vodafone's sixth policy paper, of which three focus on the social impact of mobile phones, details new, independent research by leading economists from Frontier Economics and Groupe d'Economie Mondiale as well as consultants to the World Bank.

The suggested changes will have wide spread impact on both the economic development of countries and the financial security of millions of people currently without access to banking services.