Banking the Poor Through Everyday Stores
Innovations, Vol. 6, No. 1, Spring 2011
14 Pages Posted: 4 Dec 2010 Last revised: 28 Jun 2011
Date Written: December 3, 2010
This paper reviews the opportunities and strategic choices facing banks considering branchless banking options. Technology, and in particular the spread of real-time mobile communications networks, permits financial service providers to delegate 'last mile' cash management and customer servicing functions to third-party retail outlets. By making basic deposit, withdrawal, and payment functions available securely through retail shops that exist in every village and neighborhood, there is an opportunity to dramatically increase the physical footprint of financial service providers in developing countries and to transform the basic economics of low-balance savings.
Keywords: Branchless Banking, Financial Access, Financial Inclusion, Microfinance
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