Method for making financial transactions from a first party in a developed country to a second party in a developing country, whereby the originator of the funds has some control over the spending of the funds when received

摘要

Equipment installed at a service providers for provision of financial transfers whereby identification of a second party is based on electronic identification cards. The invention also relates to a corresponding method in which the first party (P1) opens an originating account with a first financial institution (B1) and places funds in the account. Following which the financial institution contacts a central organization with information relative to the account and the funds therein. The second party (P2) then identifies himself to a second financial institution based on the initial identifier, the second institution contacts the central organization with identification data and funds transfer can be authorized from the first party.