The adoption of mobile money is increasing with 208 live deployments for unbanked services in 83 countries, compared to 178 in 74 countries as of January, asccording to GSMA’s 2013 Mobile Money Adoption Survey. Another 117 deployments are planned over the coming months.
The report underscores the critical role of mobile and mobile network operators (MNOs) in driving the adoption of convenient and affordable financial services among unbanked and under-banked individuals around the world.
“The impressive and encouraging results of the study demonstrate that mobile money services are increasingly reaching scale and are becoming even more essential in providing convenient and affordable financial services to the underserved,” said Chris Locke, Managing Director, GSMA Mobile for Development.
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Women in developing countries represent a significant underserved market and commercial opportunity for mobile financial service providers.
According to the study by the GSMA mWomen Programme and Visa, more than two billion people worldwide, the majority of whom are women, lack access to basic financial services.
The study, entitled, Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets, focused on women in Indonesia, Kenya, Pakistan, Papua New Guinea, and Tanzania. It was undertaken to gain additional insight into how financial institutions and mobile network operators can better support the complex financial lives of women at the base of the pyramid.
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