The iPhone, Mobile Banking, and Reducing Poverty

What's Next In Payments®
11:53 AM EST May 17th, 2012

The businessperson’s perspective on mobile banking is easy to follow: get the three billion people who have smartphones but not bank accounts onto an electronic financial network; deploy new services; enjoy scale benefits; and so on.

But this week, Bloomberg columnist William Pesek brought a more populist, humanistic viewpoint to the mobile banking conversation: beyond just a business opportunity, these innovations can lift the world’s workers out of poverty.

“Any of us (full disclosure: this includes me) who use one of Apple’s smartphones, iPads or iPods is, at least indirectly, supporting the exploitation of electronics factory workers in China,” Pesek writes — perhaps taking some liberties with specific word choices. His counterpoint is more hopeful: “Yet what if the iPhone is a key to ending the poverty that forces so many Asians to toil in such abhorrent conditions?”

Combined with the latest mobile banking technology, the continued manufacture of smartphones could be a key first step in helping to address global poverty, Pesek says.

Read the full story here.

Comments
Also by This Author
What's Hot
B2B Payments
eXelate Gets BPA Certification
B2B Payments
Fleet Telematic Firm Cuts Euro Deal
Apple Pay Tracker
Big Sales Expected For Apple On Black Friday
International
Holiday Shopping Starts Early For Global Shoppers
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
eXelate Gets BPA Certification
B2B Payments
Fleet Telematic Firm Cuts Euro Deal
B2B Payments
In B2B Payments, Branding Is Huge
B2B Payments
French Payments: Paylib Partnering With Crédit Agricole
View All Articles ››