| Description: | Akey pillar to sustainable development is expanding access to finance.Until recently, no one had envisaged that mobile phones could be such a powerful medium to achieve this objective. Private sector initiatives in utilizing mobile technologies to facilitate payments have successfully brought financial services to the doorsteps of billions of unbanked poor around the world.Today, almost half the world owns a cell phone and an estimated 1.4 billion will use cell phones to remit money domestically and across borders by 2015. The promise of mobile phone financial services lies in their delivery platform. Mobile phones are unrestrained by the infrastructural and cost requirements that have traditionally hindered banks and others from reaching the impoverished. |
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