Financial inclusion: Great potential for the future
Father of M-Pesa Michael Joseph, former Safaricom CEO, talks to CNN's Richard Quest about the future of banking and how Kenya is positioned to lead once again.
UPDATE: November 26, 2024: Leslie Stahl's feature segments and profiles of people provided an update on this topic in "60 Minutes Rewind," titled "The Future of Money." (expand article)By Theo EdwardsUPDATE: November 26, 2024: Leslie Stahl's feature segments and profiles of people provided an update on this topic in "60 Minutes Rewind," titled "The Future of Money." 60 Minutes Rewind, titled The Future of Money
The future of money is becoming increasingly digital as faster financial technologies transform the concept of currency. Physical cash is being replaced by more abstract payment methods, which challenge traditional financial institutions. The ongoing evolution of M-Pesa highlights the potential of these advancements, showcasing a new era of financial possibilities
Leslie Stahl's feature segments and profiles of people in the news provided an update on this topic in "60 Minutes Rewind," titled "The Future of Money."
In 2015, Lesley Stahl traveled to Kenya, where the mobile money revolution was reshaping lives. Through the innovative platform M-Pesa, Kenyans could effortlessly send and receive money on their cell phones. This groundbreaking service not only boosted commerce but also delivered essential resources to underserved communities, making a significant impact on the lives of many.
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A country once where 90% of transactions done in cash. Kenya appears to have the economic edge over its African rivals, Nigeria, South Africa, and Ethiopia.
M-Pesa, a mobile money transfer service launched in Kenya in 2007 by telecommunications company Safaricom allowed people to send money via mobile messaging such as friends or family, and even to pay for goods and services. The system is simple in concept. In practice this means that carrying out business becomes much easier, contributing to increased productivity.
During the 2008 post-election violence people began to see M-Pesa as a safer place to store their money than mainstream banks. Its service funded by a small commission per transaction allows users to deposit, withdraw, transfer money to other users and non-users. Pay bills, purchase airtime and in some markets, transfer money between the service and a bank account. Mobile money of this kind has begun to diffuse to countries like Tanzania, India, and Afghanistan. Setting up a mobile phone network running M-Pesa becomes possible to distribute and control flows of cash such that affected people. There are significantly more M-Pesa outlets than ATMs and traditional banking system.
Hold on just a moment before you drop $1,000 or more on a flagship handset
It’s better to be on the most recent OS updates, and your apps are going to be snappier on newer hardware. The point, however, these differences become smaller and smaller with each round of flagship launches. Situation has changed and has been for a while. Today's best budget handset come in Full HD screens and performance that won’t make you want to throw them at the wall in frustration.
It is your money, obviously, but you could opt for the choice of cheaper better value phones. It used to be that more affordable phones ran buggy disastrous Android versions or hardware noticeably insufficient. Now that we're nearly a decade into the touchscreen era, lower-shelf devices have had time to catch up. Each passing year the choice gets wider and this the way the market is now.
A remarkably well-built device with triple Camera’s Master AI system and loads of style. We're impressed with Huawei P20 Pro Smartphone, where leading-edge camera technology meets visionary creative design. Its specs indicate a commitment to value. Based on specs and price, the recently unveiled Huawei P20 Pro is poised to be a remarkably high-value phone amidst all the negative buzz.
How to get the Huawei P20 Pro (Global) GSM-only factory unlocked version on this side of the Atlantic
The Huawei P20: Here’s everything you need to know
Andy Boxall
The fallout between Huawei and almost carrier partners AT&T and Verizon spurred on by the U.S. Government’s distrust of the Chinese phone maker, plus the brand’s recent exit from Best Buy means bad news for those excited about the company’s flagship handset. Huawei’s newest handsets are sold practically everywhere except for the U.S. Even our Canadian neighbors are getting the P20 family, which bodes well for prospective American buyers. Remember, not all phones work on all international networks because they aren’t built specifically for that network. Huawei provides a comprehensive breakdown of the 3G and 4G LTE bands supported by the P20 Pro on its website. You can compare to the bands offered by AT&T and T-Mobile in the U.S. Huawei P20 Pro Technical Specification.
Websites for all unlocked Consumer Electronics device when traveling internationally. Note: Prices vary from site to site.
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