Mobile banking spreading to Asia and Latin America

Wednesday, February 26, 2014

Mobile money services for people without access to the traditional financial system are spreading at an increasing pace beyond Africa, according to a report released yesterday (24 February) at the Mobile World Congress 2014 in Barcelona, Spain.

The report also highlights nine developing countries — all in Sub-Saharan Africa — where there are now more mobile bank accounts than traditional bank accounts.

“Through mobile tech, underserved people are being digitally and financially included,” says Tim Hayward, acting head of mobile for development at GSMA, which represents mobile operators worldwide and which released the report.

Source: SciDevNet (link opens in a new window)

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banking, financial inclusion, mobile finance, mobile money