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Monetary Theory and Mobile Banking: Lessons from the Kenyan Experience

Jan 01, 2010 | W. Jack, T. Suri, R. Townsend | Federal Reserve Bank of Richmond
This paper uses a class of models of money and the payments system to inform an analysis of “mobile banking” in the context of the rapid expansion of M‐PESA, a new technology in Kenya that allows payments via mobile phones (even without any access to a bank account), and currently reaches close to 38 percent of Kenyan adults.
Theme: Digital Finance, Financial Inclusion | Country: Kenya | Pages: 40
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