Gates Foundation to Fund Mobile Banking Initiatives

Feb 18, 2009 — The GSMA, which intends to represent the interests of the worldwide mobile communications industry, and the Bill & Melinda Gates Foundation have announced a programme that could expand the availability of financial services to millions of people in the developing world through mobile phones. The Mobile Money for the Unbanked programme, supported by a US$12.5 million grant from the foundation, will work with mobile operators, banks, microfinance institutions, government and development organisations to encourage the expansion of reliable, affordable mobile financial services to the unbanked. (full article)