How can mobile communications technology improve financial inclusion in Africa?
Bricks and mortar infrastructure costs render traditional banking models too uneconomical to reach low-income or rural populations. Done right, mobile money can bring the banked world to the unbanked in ways that are useful in their daily lives.
What are the socio-economic benefits of mobile money?
Every digital device has the potential to be a payments device, but if we simply digitize the tools without extending them to those outside the system, we risk having the “Internet of Everything” without the “Inclusion of Everyone”.
“For many users it is the first time they have had access to the banking system”,
Mark Elliott, Division President, MasterCard South Africa
What is Mastercard’s role in driving the adoption of mobile money services?
We can connect a complicated web of players who operate with different rules and technologies. Together, we can drive ubiquity, safety, and utility – the triple key to success in mobile payments. Our challenge is ensuring that mobile payments and financial services are at least as convenient and interoperable as cash
