Mobile Banking in Senegal

Originally posted on Blackboard by Jessica Schofield

Here is a post about how mobile banking has been successful in Senegal. The technology was widely used to pay for satellite service to watch World Cup games. The article also explains that, since bank usage is so minimal, it isn’t cost effective for banks to have ATM’s in rural villages, so many transactions are done in cash and if you want to give money to a family in another village the money actually has to physically be brought there. Not only is this an example of how business can be improved through ICT4D but it is also another example of leapfrogging. Mobile banking is just beginning to be widely used in the United States with Chase offering check picture deposits and banks offering mobile transaction alerts. It looks as though Senegal is completely skipping over the bank branch/ATM models we traditionally saw and moving straight to mobile banking technology.

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