Article

  Comment(0)

 
Share:    Email  

Mobile money plan stumbles at start in Haiti

Trenton Daniel

Monday, June 11, 2012 - 09:55

Aid agencies trying to remake Haiti after a catastrophic earthquake are promoting a new way to bypass banks altogether: easy money transfers by cellphone.

PORT-AU-PRINCE, Haiti (AP) — Getting money in Haiti can be a harrowing experience: Bank branches are few, most of them are in the capital and a simple transaction can take half a day. Cash machines are scarce as well, and often broken or empty. And then there are the thieves who often wait nearby in hopes of finding a mark.

So aid agencies trying to remake Haiti after a catastrophic earthquake are promoting a new way to bypass banks altogether: easy money transfers by cellphone. The U.S. government and the Bill & Melinda Gates Foundation have pumped millions of dollars into the plan, which lets people save and move money in mobile phone accounts and quickly withdraw it at a network of retail stores around the country.

As yet, though, few Haitians are buying the idea, which has become one of many post-quake projects to fall short of expectations and a reminder of how hard it is to change a society that has been repeatedly set back by political upheaval and natural disasters.

Read the full story by clicking the link below
http://www.google.com/hostednews/ap/article/ALeqM5iOe8N7goLXti3jBAemRZk-gZ7wyw?docId=8a617 cfeb7....
 
Tags: Mobile Money Transfer, Americas, Haiti, Digicel, VOILA, Bill & Melinda Gates Foundation

Sponsored Links
 

 

  Article

   Comments(0)

 
Login or register to post comments
[Show comment]

FEATURED EVENTS

Mobile Money Africa 2014Digital Banking Summit
PayExpo 2014 

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.Square’s deal with Starbucks is costing the payments startup mi
2.Mobile payment startup Square plans sale as losses widen: Report
3.Secure NFC components reinvigorate mobile payments
4.Mobile commerce doubles as traffic spikes on the smallest screens
5.Walmart Banks on Cash
6.Xpress Money Partners with Emirates India International Exchange
7.Blue Rocket Announces The Next Wave of Mobile Payment Technology
8.6 Mobile Marketing Must-Have’s
9.No longer just a factory, China is a mobile leader
10.Mobile wallet marketplace in China adds another key player

FEATURED COMPANIES

MOST POPULAR

BLOGS


 
 

Mobile Financial News from around the web

 
 
 

Inside the DonRiver Network