Mobile Phone Financial Services in Africa

Mobile phone banking services permit low-income and rural consumers to receive funds, make payments, and transfer money. Remote regions without banks, cash machines, and credit cards are served by low-cost cell phone banking services that are easily used by those with limited technology skills. The mobile phone serves as a debit card. In Kenya, M-Pesa is improving the social and economic empowerment of women. In areas of Bangladesh, the Grameen Bank leases phones to help people start businesses. I will present my research findings that these small enterprises result in personal and social economic opportunities that include improved food, water, health care, and education