The Big Idea: (UPDATED) Simple Truths About Mobile Money via NextBillion.net

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The Big Idea: (UPDATED) Simple Truths About Mobile Money.

Financial Inclusion is development-speak for access to banking services for the poor. Some people in development– banks?– think we need to reach the poor and “unbanked“.

That would be 2.7 billion unbanked people in world. The premise is that even if, or perhaps especially if, you have very little money and/or you live in the countryside, your money is safer at the bank.

One way to deliver financial services, when you have no brick and mortar bank,  is through cell phones. Mobile technologies have created a wealth of opportunities (pun intended) for global development.

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Scratch-offs + cell phones = energy.

Read how this social entrepreneur is bringing a pay-as-you go system to provide the world’s poorest people access to solar energy:

1. Get a unique code from a scratch-off card.
2. Send a text with the code to a local service.
3. The service that will then credit the specified personal solar cell.

From the Sun (Bypassing the Grid) to the BoP Consumer.

Social businesses are reaching and improving the lives of the world’s poorest