Mobile money is a concept that is studied and implemented more and more by companies and governments. Organizations like USAid have been focusing on this as part of their actions in developing countries. USAid defines mobile money as a system that "allows people and organizations to transfer money instantaneously and in full to a "mobile wallet" account on a cell phone and withdraw cash as necessary at local retailers."
Today is the last day of the GSMA NFC & Mobile Money Summit, held in Milan, Italy. This event's goal is to help develop mobile money products and services in developing markets. The conference's program focused on hot topics and innovations, with the exhibition of the most innovative mobile money products and services. It is also a place to network with mobile network operators, financial services institutions and technology solutions providers.
Mobile solutions are very important in developing countries as they are considered a way to help them develop businesses and get their people, especially women, more financially independent. In Afghanistan, due to illiteracy and a lack of knowledge about mobile devices, women have less access to mobile services. That's why GSMA launched the mWomen design challenge to help overcome those barriers and create tools with simple interfaces. The GSMA mWomen Programme asks: "What if we designed smartphones with the needs of resource-poor women in mind?" The video below presents the challenge and facts about mobile phones in the world: