Banking on growth

Lunden, Ingrid
December 2009
Total Telecom Magazine;Dec2009/Jan2010, p11
Trade Publication
The article discusses the growth of mobile money services in developing nations in Africa, Asia and the Middle East. It states that in countries which lack a reliable telephone infrastructure, mobile phones dominate, and payments through such are growing. In Uganda, the cited amount of mobile payments was two billion U.S. dollars in 2008, with an expected increase of another one billion dollars for 2009. The current limit to usage lies in the high poverty rates where many do not even have a bank account. Payments are made for bills and even merchandise.


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