SXSW Interactive 2014
Mobile Money: Changing Lives in Emerging Markets
It is estimated that by 2020, the growth of mobile devices in emerging markets will be worth $38 billion, opening doors to improve lives through the mobile. For most emerging markets, traditional banking methods are not available making commerce a challenge in developing rural areas. Mobile Money is an application which allows mobile subscribers to manage their income and payments securely, including the ability to pay for services such as clean drinking water, receive funds from salaries or goods sold, transfer money and withdraw cash.
In this session, the possibilities of mobile money and currently implemented programs will be discussed. Mobile money has already started helping entrepreneurs to conduct business thanks to initiatives like M-Pesa which allows users with a national ID card to deposit, pay and transfer money with a mobile and Transfer in Mexico, aimed to eliminate commerce barriers by providing the population with a solution to banking for the unbanked.
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Additional Supporting Materials
- What is mobile money?
- How is mobile money playing a part in the development of emerging markets?
- How is mobile money proving a better distribution of funds/income?
- What types of entrepreneurship are being enabled thanks to mobile money?
- What is the situation (statistics and facts) of unbanked or financially excluded people in emerging markets?
- Naomi Lurie, Marketing Director, Mobile Financial Services, Gemalto
Angela Rennert, SR MARCOM, Gemalto