FIRST MOBILE TELEPHONY PAYMENT SYSTEM UNVEILED IN MADRID.

Spain's first mobile telephony payment system was unveiled in Madrid on 5 June by the leading Spanish bank the Banco Santander Central Hispano (BSCH) and the telephone company Airtel. Subscribers to the service will be able to make payments in establishments operating the system by tapping into their mobile phone the value of the transaction and the identity of the business where the purchase is made, according to a BSCH statement. Under an agreement, Airtel will provide telecommunications...