Mobile money services, which allow users to store and exchange monetary values via mobile phone, may help lift people in developing economies out of poverty, a new study led by an Indian origin researcher suggests.
The study shows that mobile-money services have had notable long-term effects on poverty reduction in Kenya – especially among female-headed households – and have inspired a surprising occupation shift among women.
The study led by Tavneet Suri, associate professor at Massachusetts Institute of Technology (MIT) in the US, estimates that, since 2008, access to mobile-money services increased daily per capita consumption levels of 194,000 – or 2 per cent – of Kenyan households, lifting them out of extreme poverty (living on less than USD 1.25 per day).
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Source: Deccan Chronicle