Everywhere you go, people are using mobile phones. But in many parts of the world, many people are not using banks. Combining the two could change the latter. Mobile money’s promise to make financial services universally accessible has caught the attention of many corporations, foundations, and governments. Vodafone has led the charge to date, launching several highly visible services from the Middle East to Africa.
Competitors have tried to replicate Vodafone’s pioneering programs with mixed success. Perhaps this is because most of their efforts focused on how to overcome technological and regulatory hurdles, instead how people actually use, count, and think about money. Paying attention to people’s attitudes and behaviors may be the key to unlocking mobile money’s full potential.



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