Grassroots Strategy for Mobile Phone Based Payments, Sighted in Africa

Today's mobile phones are as powerful as the computer used in Apollo 11 for the moon mission. So how can India's 400 million-plus mobile phones/NASA computers transform access to finance? Many people have been talking about the potential of mobile phones to revolutionise payments and ultimately consumer finance. Chapter 3, `Broadening access to finance', of Raghuram Rajan's report puts a considerable emphasis on the role that mobile phone companies can have in improving financial inclusion, even though they are not traditionally seen as financial firms.
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