he image to the user's bank for deposit. Money transfers directly to a mobile phone in a developing country When a relative or friend sends money to a person in a develop- ing country via Western Union, the electronic cash is sent directly to the receiver's handset. MoreMagic, a Massachusetts software developer, created this application. Mobile wallets Customers to whom money has been transferred via MoreMagic's app can use the electronic cash on their handsets to prepay for cellular airtime, send cash to others, or convert the electronic currency to cash through an authorized agent. Online payments People surfing the Internet on their smartphone can make online purchases through PayPal rather than having to type in their credit card number along with their name, postal address, and e-mail address. All of these apps require some type of software platform that sits between credit card processing companies or banks and the mobile network. The platform must have integrated security protocols and the ability to communicate with the financial institu- tions that process payments. They also need to communicate with servers at merchants' sites and devices that act as "readers" of the mobile device making the transaction. Each mobile handset and reader requires chips with NFC capability. The cost of these readers is often a stumbling block for retailers because they need to place one at every cash register. Alternatively, readers can be embedded in portable devices that sales associates use to process credit card sales. Another challenge for retailers is that there is no agreed-upon standard software platform. Thus, different chips are required for each platform because different carriers and mobile operating systems might adopt different software. Using a mobile handset as a substitute for a credit card for bill payments and other transactions is particularly meaningful in developing countries where, for the most Applications and Services part, the population does not have bank accounts for access to checks or credit ca