2.5 Billion Unbanked Consumers: Mobile Can Fix That Problem

Some 68 percent of adults surveyed by the World Bank say they have used a mobile phone for a money transaction. In Sudan, 52 percent say they have done so. In Gabon, 50 percent, in Algeria 44 percent. 


Some 2.5 billion people do not have access to financial services, often because bank branches are unavailable. That's why mobile money transfers are so useful. With just a little use of existing retail locations, people can pay education or utility bills, for example, using feature phones and simple text messaging, without needing physical bank branching locations.