Why Africa Is Banking on Cellphones
In an article titled "Why Africa Is Banking on Cellphones", Mail & Guardian Online reports on the growth of mobile banking and how, for people in the developing world, the arrival of mobile banking -- or m-banking -- is potentially revolutionary.
"We wanted to offer something that would work," explained Mung Ki Woo, who heads Orange's m-payments division. "Instead of giving people a plastic card, why not use something many people already have: a cellphone? And instead of doing transactions at a bank branch, why not let people go to their local retailer to deposit and withdraw cash?"
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