“People around the world are holding an instrument for economic empowerment in the palm of their hands-but some of those who could benefit most from mobile money are facing a lock screen.
Mobile payments have emerged as a key tool in the fight against global poverty. People in poor and rural areas of countries like Kenya and India are already using cell phones to send and receive funds and pay bills. Microsoft founder Bill Gates highlighted a broad range of possibilities at the Sibos banking conference in Boston early this month, describing how mobile payment applications can help people in developing countries receive vital aid, set aside money to buy fertilizer for next year's crops, save for tuition fees and build credit scores that give them to access to affordable loans.”
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