World Poor Spell $7.9 Billion in Mobile Cash for Vodafone, MTN

GSMA - which represents the interests of the worldwide mobile communications industry - estimates that by 2012 about 364 million handset owners without bank accounts will sign up for services that allow money transfers and payment of bills. Mobile money’s reach will increase as it becomes available in more countries and customers get more familiar with it, the group predicts. Bloomberg reports.

... “In emerging markets not many people have access to financial products,” said Howard Wilcox, a Basingstoke, England- based analyst at Juniper Research Ltd. “Typically many more people have a mobile phone than a bank account and therefore the mobile phone has in many cases become a much more trusted brand than the bank.”

emily | 1:25 PM | SMS and Banking |
The Permanent Link to this page is: http://www.textually.org/textually/archives/2009/07/024124.htm

Tweet