Mobile Banking

  • Dial M for money: Can mobile banking lift people out of poverty?, By Nurith Aizenman, December 9, 2016, National Public Radio: “If you live in Kenya there’s a jingle you hear on television and radio a lot.   ‘Things are now modern!’ they sing. ‘Things are now developed.’ It’s an ad for a type of banking service called M-PESA that’s run entirely through your mobile phone. You set up an account with the phone company. You can send and receive funds by text. Or, if you need to make a cash deposit or withdrawal, you do it through a vast network of agents — small-time vendors in kiosks and shops, for example, that the company has set up…”
  • Here’s why mobile money is dramatically reducing poverty in Kenya, By Robert Gebelhoff, December 22, 2016, Washington Post: “For Tavneet Suri, an economics professor at MIT who grew up in Kenya, much has changed in her home country over the past decade. What used to be an economy relatively closed off to the rest of the world is now a one where the vast majority of people are paying bills and sharing money with one another through cellphones…”

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