Boom! A change is coming to Haiti’s mobile money market… and the world
Boom! A change is coming to Haiti’s mobile money market… and the world
- February 15, 2012
By Erin Taylor
It seems that there may be another mobile money service arriving to Haiti in a few months… and this time it’s US-based, and has global ambitions for the unbanked. Meet Boom!
What makes m-Via’s Boom interesting is that, unlike TchoTcho Mobile and T-Cash, it isn’t just for use in the domestic market. In fact, it isn’t even mostly for the domestic market: m-Via’s CEO, William J. Barhydt, describes Boom as ‘the world’s first global, mobile phone based, bank account’. Boom’s advantage is that it combines an international remittance service with the facility to send money locally and pay local merchants. And with Haitians having an annual international remittance economy of approximately US$1.5 billion dollars, a great deal of cash could end up in Boom accounts.
Find out more on Erin Taylor's blog.
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