Monday, November 10, 2014

Banking the unbanked: The mobile money revolution

(CNN) -- The use of mobile phones to transfer money, make payments and access financial services has revolutionized the lives of millions of people who have never had access to traditional banking services.

Particularly in emerging markets, "mobile money" means so much more than just a digital way to transact financial services.

In some countries, the majority of the population lives outside of urban centers without easy access to infrastructure like transport, electricity and even roads, let alone banking. For these communities, where literacy levels tend to be lower and incomes sporadic, mobile money is truly transforming the socio-economic landscape

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