Mobile Banking Will Have a Significant Impact On The Poor
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In his coveted 2015 annual letter, Mr. Gates said the impact of mobile banking will have a significant and positive impact on more than two billion poor people around the world. Gates said people without bank accounts will be able to store their money on mobile devices and make payments from those devices. Gates doesn’t think this process will take long with a majority of access to mobile banking provided around the globe by 2030. We’re already seeing the effects of electronic banking systems with online accounts available at little to no cost. Platforms such as Venmo have also made it easier than ever to send money from our mobile devices. The poor also won’t be as poor, as you’ll see in our next example.
