There are lot of new ways to spend money for various purposes since the web 2.0 community grows more and more. But there are still the big players like VISA, Mastercard, Banks and other intermediaries. And where you have intermediaries you have to pay a specific margin for the service.
A different approach I found here
. It uses an existing network (mobile phones), with an existing technology (text messaging) and it is as simply as writing text messages.
It just makes transferring money as easy as it should be and thereby reducing transaction costs to its minimum.
How it works:
The phone acts as a prepaid wallet. You can text money to one that has never used text money before. When she/he gets the text message she/he is automatically a member of the network and can use it immediately.
Beside this idea of transferring money is not the final take (particularly because of security issues) its shows the way of how you should differentiate the way we exchange money. It is about using an existing technology and trying to avoid intermediaries to make accessible money to everyone. Also to the people that are not creditworthy and live below the poverty line. The people can be part of the economic system and can help themselves to get out of it.