Activity Description: Celpay, the next in a line of 'cell phone wallet services,' allows registered customers to use their cell phones for merchant transactions, monthly bill payments, and fund transfer between participating phones.

Customers registering for Celpay receive a new secure SIM card, adding a menu to their cellphones that facilitates the payments and providing access to their Celpay accounts. Money can be added to Celpay accounts via transfers from a bank account, or by depositing cash or a check at a participating Celpay partner bank.

Transfers made using Celpay are free to the payer, while the payee is charged a small fee for each transaction.

Celpay, recently purchased by South African FirstRand bank, is currently functioning in Zambia and the DRC.