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Futuristic mobile banking can really change - poor people's lives

By Patricia Phillips,2015-02-23 09:02
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Futuristic mobile banking can really change - poor people's lives

Futuristic mobile banking can really change -

poor people's lives

?BEGIN?

    IN A VILLAGE NEAR LAKE VICTORIA IN KENYA SORI, FISHERY HAS BEEN THE BACKBONE OF THE LOCAL ECONOMY.WORK HERE USUALLY BY GENDER DIVISION: MALE MAINLY ENGAGED IN FISHING, WHILE WOMEN ARE

    GENERALLY RESPONSIBLE FOR FISH PROCESSING AND

    SELLING, AS WELL AS THE FAMILY FINANCIAL

    MANAGEMENT.

    GRADUATE SCHOOL OF INTERNATIONAL TRAINING SCHOOL IN 2012, ACCORDING TO A STUDY OF THE RESIDENTS OF SORI USUALLY PUT CASH IN THE HOME.THEY OFTEN WORRY ABOUT CASH STOLEN, AND MANY OF THE WOMEN SURVEYED SAID THEIR HUSBANDS

    ALWAYS SPEND MONEY.FOR MANY OF THEM ARE

    TRADITIONAL BANKS EITHER TOO FAR, OR HAVE

    MINIMUM DEPOSIT AMOUNT LIMIT.

    IN 2007, ALL THIS HAS CHANGED.A NAME OUTSIDE THE M-PESA SERVICE TO HELP RESIDENTS VIA THEIR MOBILE PHONES TO DEPOSIT AND TRANSFER IN KENYA.JUST USE MOBILE PHONE TEXT MESSAGES, CAN COMPLETE TRANSFER OF FUNDS, WHICH MEANS MOST OF THE

    MOBILE PHONE CAN USE THE SERVICE.M-PESA AGENTS

    THROUGHOUT THE COUNTRY, TO HELP USERS TO DEPOSIT

    AND CASH WITHDRAWAL.WOMEN IN THE STUDY, MOST OF

    THE INTERVIEWS SAID THAT CURRENTLY HAVE PUT THEIR

    SAVINGS INTO THE M-PESA ACCOUNT.DOING SO CAN

    GUARD AGAINST THE THIEF ALREADY, ALSO CAN AVOID

    THE WASTE.

M-PESA HAVE ALSO BROUGHT THEIR SALES MODE

    CHANGE.BEFORE THE BIRTH OF M-PESA, A HOUSEWIFE CAN ONLY USE CASH TO DEAL.IN ORDER TO SELL CAUGHT THE FISH, THE WOMEN NEED TO TAKE THE BUS GOING TO THE MARKET, AND THIS KIND OF TRIP THAT THEY NEED TO SPEND MORE TIME AND MONEY.SINCE THE

    EMERGENCE OF M-PESA FISH THEY CAN BE DIRECTLY

    SENT TO THE MARKET AND REMOTE COLLECTION.REPORT

    POINTS OUT: "IN THE PAST, A HOUSEWIFE NEED TO SPEND

    A WEEK, GO TO NAIROBI, KENYA, ONLY TO SELL TWO

    BAGS OF FISH. NOW, SHE JUST TAKE A MORNING TIME,

    CAN BUS IS USED TO CHANGE THE FISH TO NAIROBI, AND

    SELL TO CUSTOMERS."DO GIVE THEM MORE SAVINGS,

    MANY WOMEN, THE REPORT SAID THEY NOW CAN

    UNDERTAKE LONG-TERM INVESTMENTS, SUCH AS

    CHILDREN TO BETTER SCHOOLS, OR TO BUILD A MORE

    DURABLE FOR FAMILY HOUSES, TO DEFEND AGAINST

    SEASONAL FLOODING.

    BILL GATES (BILL GATES) POINTED OUT THAT SIMILAR M-PESA SOLUTION WILL CHANGE THE POOR LIFE IN THE NEAR FUTURE."OVER THE NEXT 15 YEARS, THE DIGITAL BANKS WILL HELP POOR PEOPLE TO BETTER MANAGE THE PROPERTY, SO AS TO CHANGE THEIR LIVES.", "HE SAID IN

    HIS ANNUAL LETTER IN 2030, 2030, THE CURRENT HAS

    NOT YET HAVE A BANK ACCOUNT WILL BE ABLE TO

    DEPOSIT AND COMPLETE THE PAYMENT BY MOBILE

    PHONE. THE MOBILE FINANCIAL SERVICES PROVIDER WILL

    PROVIDE COMPLETE FINANCIAL SERVICES, WHETHER HAVE

    INTEREST ON SAVINGS ACCOUNTS, CREDIT SERVICES, AND

    INSURANCE."

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