MWC 2017 · BarcelonaMar 31, 2017Tech & Innovation1:39
Michael Joseph with Maryam Behmard on Mobile Money in India
In a country where cash has long been king and 90% of villages have no bank branch, the phone becomes the bank account.
A cut from MWC 2017 · Barcelona - screen the full programme.
In this segment
- Uber and Ola both team up with telecoms operators so riders can pay from a phone wallet.
- Vodafone's M-Pesa also covers TV, water and electricity bills.
- State governments pay social grants directly into the wallet.
- M-Pesa leads the Indian market but reaches just 0.3% of the population.
- The GSMA's Alasdair Grant: with no bank branch in 90% of villages, a smartphone means a first bank account.