The mobile payment revolution

Mobile payments are poised to push cash management to new frontiers.

Travel to a rural village in any developing country and you're likely to encounter infrastructure deficiencies. Electricity, running water and sanitation are often rudimentary at best. However, walk down a rural main street and one modern convenience will immediately jump out -- mobile phones.

During the past decade, access to portable phones has taken off. According to the World Bank and the GSM Association, the number of subscribers in developing countries has risen more than 500% since 2000. Today, global...

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