A Vancouver, Canada-based company, Eqo ("echo"), has developed a new technology that may ease the financial pain of international phone calls. Their model is similar to Skype, the free software that allows users to make calls over the Internet from their computers. When downloaded to a cellphone, Eqo's software uses the Internet to make cheap calls locally or abroad.

Here's how it works: First, a user downloads Eqo's software to the phone. Next, the software automatically organizes existing contacts into the Eqo application.Then, the phone owner can call any Eqo users for free, no matter where they live. But callers won't only save by calling other Eqo users. The best part about the technology is that calling someone who doesn't have Eqo is super cheap -- around 2 cents per minute. Not a bad deal.

Unfortunately, it takes time to download and figure out how to use the software, so callers might continue to rely on phone cards. Nevertheless, Eqo is available through Europe and the Middle East, with plans to be available in 60 countries by the end of 2008.

Check out the whole article at the Discovery Channel's website.

Filed under: North America, Canada, Internet Tools