Telecoms Seek to Unlock Financial Services for 1.7B Unbanked
Telecommunications Payments: Telecoms’ Emerging Role In The Payments And Banking Fields
Individuals with mobile phones outnumber those with bank accounts in the most underbanked regions of the world, offering the telecom industry a prime opportunity to fulfill a vital role. In this month’s “Telecommunications Payments Tracker®,” a collaboration with i2c, four telecom providers tell PYMNTS how the industry is ideally positioned to provide financial access to unbanked households.
Inside the December Tracker
- Four telecom providers detail how the industry is uniquely positioned to help unbanked households — as well as some areas needing improvement
- Partnerships with FinTechs and FIs could allow telecommunications companies to transform access to financial services through innovation and improve financial inclusion globally
- As new nonbank financial systems such as telecommunications payments swiftly replace banks in many consumers’ lives, “unbanked” could take on a whole new meaning
