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Mobile money still has some way to go for the unbanked

Saturday, March 7, 2015 - 05:50
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MOBILE MONEY: The poster child for telco-driven money services is M-Pesa by Vodafone and run by Kenya's Safaricom. Mobile money accounts for more than a fifth of its 145 billion shillings annual revenue.

Singapore

GLOBALLY, an estimated 2.5 billion people don't have a bank account, but many own a cellphone, fuelling a race to turn these phones into bank books for the unbanked to store cash, manage their accounts, make purchases and send and receive money - part of so-called "financial