“Every week the technology world holds its breath with anticipation as the latest tech giants make new strides into the mobile payments sector. After years of low consumer take-up of services like Google Wallet and Square, the launch of Apple Pay last year was hailed as a pivotal moment, signaling the time when mobile payments would finally go mainstream.
With mega players like Facebook and Microsoft now joining the peer-to-peer money sending and digital payments fray, even sceptics are wondering if 2015 might truly be "The Year of Mobile Payments". Yet what many don’t realize is that these services are already lagging 10 years behind. The rest of the world is paying attention to a different mobile payments phenomenon - one that’s been taking place thousands of miles away. Last month, global telecoms body GSMA revealed that the number of active users of Mobile Money -- a service which enables users to send and receive money from basic mobile phones without requiring a bank account or payment card -- had doubled from 2013 to reach 103 million globally.”
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