In Africa, Bitpesa is doing a great job of commerce over sms[1]. A third of Kenya's GDP flows through Bitpesa[2]. With people more people having access to a cell phone than proper sanitation[3]; commerce over text will increase faster in the developing world than in the west. It is definitely a trend to keep an eye on.
definitely agree that the developing world is much faster in adopting commerce over text products. I think it's partly due to the high rates of data in India & Africa