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Title: [2016-09-22] Developing nations would be $3.7 trillion richer Post by: Kakmakr on September 23, 2016, 08:14:34 AM http://qz.com/787137/developing-nations-would-be-3-7-trillion-richer-if-more-people-could-handle-their-finances-from-their-mobile-phones-instead-of-going-to-the-bank/
In developing nations, however, two billion people don’t have access to basic financial services such as savings accounts and credit. That’s almost half of the developing world’s adult population. Giving most of these people access to those services using mobile phones and the internet would increase the GDP of emerging economies by $3.7 trillion by 2025, according to a study by the McKinsey Global Institute. That’s a 6% boost. Mobile payments lower the cost of providing financial services by as much as 90%. This would let providers serve low-income customers and still make a profit. Bitcoin and most other mobile payment options are becoming more popular now. [ Example M-Pesa ] |