Mobile Payments: Ten Years On, What Has Changed?

• by Richard Ketley
• May 4, 2010
• 1 min
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Mobile payments and mobile banking became a major part of the way in which poor people received financial services. This Briefing Note considers some of the key developments.

A decade ago it seemed clear that it was only a matter of time before mobile payments and mobile banking became a major part of the way in which poor people received financial services. This Briefing Note considers some of the key developments. Providing that a dominant and interoperable transaction infrastructure emerges, there should be major opportunities for MFIs to re-engineer business process to reduce costs using the capabilities of mobile payment platforms. This is already happening in the Philippines, and in Kenya.