Communicating through radio link has come a long way since World War II. With voice calls, text messages, mobile internet access and built-in cameras, today’s smartphone is already a remarkable all-in-one handheld computer but its potential could be even greater in the developing world.
This is particularly true in banking. Asia’s fragmented payments infrastructure and large unbanked population mean that millions lack even limited access to branch-based banking, but rising mobile penetration is creating new options for person-to-person payments.
“Mobile banking works because the individuals and small businesses in the emerging markets have access to a mobile phone,” said Richard Davies, Asia-Pacific director of Logica’s global...
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