Vodafone Mobile banking - 'Economic Empowerment through Mob

[Barry]

Vodafone Group published a report that reveals the economic and social benefits being created by mobile banking (m-banking) amongst the world's poorest communities.

The 'Economic Empowerment through Mobile', includes the results from three independent research projects. Vodafone partnered with The Consultative Group to Assist the Poor (CGAP) and World Resource Institute (WRI) to research the impact of
mobile phones in enabling economic transactions.

Key economic findings include:

- The first public results on how low-income individuals in South Africa view and use m-banking, showing it is valued as it can be more affordable than traditional banking (94% of users/37% non-users)

- Traditional business models are being challenged as m-banking models are adopted; one third of people in South Africa and Botswana who do not have bank accounts do either have a mobile phone or have access to one

- Airtime Transfer services in Egypt have started to create commercial opportunities for small-time dealers and resellers of airtime, providing a viable and flexible business opportunity for a wide range of micro-entrepreneurs


- Mobile technology and the Airtime Transfer services support social networks through reinforcing existing relationships and enabling airtime to be redistributed across family or friends

- Airtime Transfer services have given women more independence. 52% of the women surveyed for the FFF research said that airtime transfer gave them more freedom with only 5% saying the opposite

_________________
Start Posting for Cool Prizes!