Branchless banking’ allows an individual to have a remote bank account 
that is accessed and managed through their mobile phone or other technologies. This could mean those with no chance of using traditional banks – because they are either too poor or the nearest bank is miles away - will be given the opportunity to save money, gain access to credit and receive money sent from family members in other countries.
The potential market for technology and mobile phone companies is huge, and by piggy-backing on existing technologies and infrastructures, the transaction cost can be much cheaper than traditional banks. For example a study in India showed it costs $1 per transaction in a bank, 40-50 cents per transaction from a cash machine and only 10 cents when a smart card is used.
(For the rest of the story, visit: http://www.dfid.gov.uk/news/files/SoS-FAST.asp
that is accessed and managed through their mobile phone or other technologies. This could mean those with no chance of using traditional banks – because they are either too poor or the nearest bank is miles away - will be given the opportunity to save money, gain access to credit and receive money sent from family members in other countries.The potential market for technology and mobile phone companies is huge, and by piggy-backing on existing technologies and infrastructures, the transaction cost can be much cheaper than traditional banks. For example a study in India showed it costs $1 per transaction in a bank, 40-50 cents per transaction from a cash machine and only 10 cents when a smart card is used.
(For the rest of the story, visit: http://www.dfid.gov.uk/news/files/SoS-FAST.asp
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