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Mobile money may help lift people out of poverty


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).

For more on this story visit the following link: Mobile money may help lift people out of poverty

Source: Deccan Chronicle

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