Article

  Comment(0)

 
Share:    Email  

Developing Countries Are Revolutionizing Mobile Banking

Vijay Govindarajan

Tuesday, May 1, 2012 - 09:20

Developing Countries Are Revolutionizing Mobile Banking.

On February 16, 2012, Barclays of U.K. launched Pingit, a service that lets people send and receive money using a smartphone.

But this isn't the first big innovation in mobile banking. These innovations are already happening in developing countries.

Poor countries are jumping ahead of rich ones by building a 21st century infrastructure (because they have little legacy infrastructure to begin with). For example, India has leapfrogged from no land-line telephones to the latest in wireless telephony. That revolution, in turn, is causing India to leapfrog brick-and-mortar banking to wireless banking for the masses. We see similar patterns in other poor countries as well. Mobile money transfer in Africa, M-Pesa, is a case in point. Counterintuitive as it may seem, poor countries may be ahead of rich countries in mobile banking.

The story of one such innovation, NPCI's Inter-Bank Mobile Payment Service (IMPS), shows how far ahead India is with this technology.

Read the full story by clicking the link below
http://blogs.hbr.org/cs/2012/04/innovations_in_mobile_banking.html
 
Tags: Mobile Banking, Mobile Money Transfer, Global, Citibank, P2P, M-PESA, NPCI, Developing Countries, Coca-Cola

Sponsored Links
 

 

  Article

   Comments(0)

 
Login or register to post comments
[Show comment]

Stay Connected

 
Sign Up for the Latest in:
 
 
Mobile Money Transfer
Mobile Commerce
Micro Finance
Mobile Technology
EMEA
APAC
Mobile Payments
Mobile Banking
Mobile Marketing
Global
Americas
Company
(*)
 

MOST POPULAR

HEADLINES

1.Mobile wallet: A distant dream in India?
2.Starbucks now processes six million mobile payments a week
3.Amazon Struggling to Turn Around its Mobile Fortunes
4. Six reasons why cloud computing will transform the way banks ser
5.Host Card Emulation Will Take A Byte Out of Your Wallet
6.Google predicted to build a comprehensive digital wallet for mobi
7.US mobile payment firm LoopPay wins Visa funding
8.Google Wallet vs. Amazon Wallet: Which mobile payment app deserve
9.The iWatch Could Be Apple’s Secret Weapon For Mobile Payments Re
10.Amazon to Enter Mobile Payments Arena?

FEATURED COMPANIES

MOST POPULAR

BLOGS


 
 

Mobile Financial News from around the web

 
 
 

Inside the DonRiver Network