“The Bill & Melinda Gates Foundation is aiming to accelerate the adoption of digital payments in the developing world by offering grants to firms that make it easy for small merchants to accept mobile money.
More than 2.5 billion adults around the world, and 59% of those in developing economies, do not have a formal bank account, trapping them in a cash-based economy that "steals away their chance to build a stable future," according to the foundation.
While mobile phones have helped usher in an era of person-to-person digital transactions, the vast majority of payments within the small merchant community continue to be cash-based.”
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