Bill Gates focused on digital payment for poor
Tuesday, September 16, 2014
Though there has been a lot of talk and media coverage about the tremendous potential mobile payments offer to the poor, underbanked and financially disenfranchised around the world–minus a few bright spots (M-Pesa) the progress of mobile in bridging the gap between the banked and unbanked has been slow going.
Bill Gates wants to see that process go faster, and is putting his (foundation’s) money where his mouth is.
According a post on the Bill and Melinda Gates Foundation website, the organization is launching the Grand Challenges Explorations series of grants aimed at increasing financial access and inclusion for the poor. Specifically, the program is bent on adding value to mobile for poor and low income people by enabling universal acceptance of mobile money among small merchants and service providers.