Mobilis Networks Limited has announced the release of new software that could revolutionize the use of mobile wallets. 

The solution is used in conjunction with point of sale fingerprint verification to make international money transfers and mobile payments using NFC technology, demonstrated in the video below. 

NFC, or near field communication, is a contactless technology similar in function to a swipe card used to gain entry to a building. It allows devices, generally mobile phones, to connect to each other simply by physical or close contact.

Mobile phones are either built NFC-ready or so an NFC chip or 'tag' (News - Alert) can be installed. The technology has been in use for a while in several differentapplications, including 'smart objects' such as billboards with scannable NFC barcodes that provide information; and in transportation settings, allowing commuters to quickly and easily pay their fares by scanning their phones.

Mobilis aims to make sending money around the world quicker and easier through a simple swipe of a NFC-enabled phone. Those interested in transferring funds can find a participating location outfitted with Mobilis software and have their fingerprint verified. 

The country where the money is to be sent is selected, along with the currency, the receiver's mobile number and the amount of money to send. Before any money is transferred, Mobilis' software along with their partners around the globe, determine the best possible exchange deal for the customer. 

The entire chain of events, from setting up the deal to the money being delivered, takes less than a minute. 

The service is not exclusive to smartphones, and customers don't even have to have a bank account or credit card to make money transfers. Those receiving the money can then use the transfer to pay for a variety of things including bills, also via NFC technology at points of sale detailed with the necessary equipment.

Other companies are likely to follow Mobilis' lead shortly. Amazon is considering the technology, the new iPhone (News - Alert) 5 is rumored to be NFC-enabled. 

For now, Mobilis' services for money transfers via NFC are only available in Asia, the Pacific, Africa and the Middle East.