Center for Technology Innovation

Issues in Technology Innovation

REUTERS/Noor Khamis - A man leaves an M-PESA booth after a money transaction in Nairobi May 12, 2009. Teaming up with Kenya Commercial Bank to let phone users who do not have bank accounts send each other money, M-PESA, the virtual cash network, hit on a formula that has attracted 6.5 million customers, or one in six Kenyans, in just over two years.


Smartphones for the Unbanked: How Mobile Money Will Drive Digital Inclusion in Developing Countries

September 16, 2013, John Villasenor

John Villasenor writes that in much of the developing world, mobile phones far outnumber bank accounts. This imbalance has led to the growth of an increasingly complex “mobile money” ecosystem allowing funds to be transferred among mobile phone users. 

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