'With the right market conditions, mobile banking could reach large numbers of poor people who are outside the formal financial system' - CGAP
Apparently fewer than one in ten mobile phone banking customers are poor, new to banking, or doing anything more than payments and transfers: in the world.
And in the Phillipines, a transaction on a cell phone or at an ATM costs one fifth that of a traditional visit to a bank branch
According to the website, the challenges to the growth of branchless banking include a reluctance on the part of banks to get involved, as well as outdated or inadequate regulations.
more info on CGAP website
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