Smart cards and mobile phones are increasingly used as methods to pay for items and services with electronic cash. Mobile phones have become very popular for making all types of payments. It is possible to spend the day in Austria without using cash at all, paying for everything with a mobile phone, for example. According to Arthur D. Little, a management consultant firm, worldwide payments using mobile phones will rise to over $37 billion by 2008 up from $3.2 billion in 2003. Mobile phones are used to buy many types of things in Asia. Visa and SK Telecom, the top mobile company in South Korea, have announced the commercial introduction of a phone-payments system that targets 30,000 subscribers. Hundreds of thousands of transactions in Japan already occur every day via mobile phone handsets. Many banking services are also being offered on mobile phones. MasterCard plans to operate a system involving 19 telephone operators with networks in more than 100 countries. The network will let people use handsets to send money overseas. The remittances will be sent as text messages, and for individuals without bank accounts, the credit can be converted into pre-paid cards. These can then be used to purchase items. Sunil Bharti Mittal, head of Bharti Airtel, one of the largest mobile operators in India, believes the technology will create a revolution in the money-transfer industry.