Sunday, June 10, 2012

Mobile money gains traction in Haiti despite slow start

Getting money in Haiti can be a harrowing experience: Bank branches are few, most of them are in the capital and a simple transaction can take half a day. Cash machines are scarce as well, and often broken or empty.

So aid agencies trying to remake Haiti after a catastrophic earthquake are promoting a new way to bypass banks altogether: easy money transfers by cellphone. Donors have pumped millions of dollars into the plan, which lets people save and move money in mobile phone accounts

More details here...

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