Finding innovative models to extend financial services to the poor has now become an urgent challenge. The excite- ment around mobile money has arisen in part because it is widely seen as an effective way to provide access to finance to millions of people around the globe. According to the Consultative Group to Assist the Poor (CGAP), roughly 1 billion people have a mobile phone but no bank account. Providing them access to mobile financial services will involve difficult implementation that is unlikely to succeed quickly. In addition to extending financial services to the poor, mobile money is expected to improve productivity by increasing the efficiency and lowering.
