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The Power of Mobile Money

We recently published Biswajit Sarkar's article Using the Payment API for Microcredit and Other Applications". This week's Economist magazine is featuring a special report on mobile banking in emerging markets, titled "The power of mobile money": "mobile phones have evolved in a few short years to become tools of economic empowerment for the world’s poorest people. These phones compensate for inadequate infrastructure, such as bad roads and slow postal services, allowing information to move more freely, making markets more efficient and unleashing entrepreneurship ... With such phones now so commonplace, a new opportunity beckons: mobile money, which allows cash to travel as quickly as a text message..."