An interesting insight emerged during the recent marketing week about payment systems in some developing countries (that should be considered by Australian businesses planning international expansion).
For example, in Kenya more than 80% of the population with access to mobile phones uses it to make payments (Forbes 18.08.2014). The most popular system is called M-Pesa. The concept is simple: M-Pesa customers can receive and send money through their mobile phones using simple text messaging technology.
The system is credited with transforming the lives of millions of Africans who have little or no access to conventional banking services. From its debut in Kenya seven years ago, the mobile phone transfer system has since expanded to half a dozen African countries (The Wall Street Journal 15.08.2014).