In Poorer Nations, Cellphones Help Open Up Microfinancing

In many developing countries, where bank branches and A.T.M.’s are few or nonexistent in rural areas, cellphones may finally make financial services practical such places, fitting in the palm of one’s hand. The New York Times reports.

"Mobile devices have the potential to take financial markets outside urban areas, allowing banks to provide services like loans and savings accounts in rural regions, according to a report by Vodafone and Nokia, published last week."

emily | 9:21 AM | SMS and Banking |
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