The Indian government’s plan to provide every resident with a unique biometrically linked identity number is an exciting development for those of us dedicated to broadening financial access to unbanked people worldwide.
While the founders of EasyPaisa guessed that they would reach a reasonable volume of customers through OTC services, they did not guess that OTC remittances would be the dominant activity by far for EasyPaisa's customers.
bKash is the fastest growing provider of mobile financial services in Bangladesh, having registered 11 million accounts in just 30 months. Several factors have combined to help bKash be an early success in a relatively new market.
The card industry once faced a challenge in retail payments familiar to today’s mobile money providers: competitors were building their own acceptance networks, limiting the usefulness of their services. The card industry’s solution could hold a valuable lesson for today.