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We have learned about some leading technologies that help banking the unbanked. Mobile
banking makes banks more accessible. Mobile money also plays a crucial role in banking the
unbanked.
One noteworthy effort is M-PESA, a mobile money service that allows users to conduct basic
financial transactions without needing to access bank accounts. M-PESA is not the only mobile
payment solution, but when it comes to serving unbanked families, M-PESA is among the most
successful.
In our class, we have discussed some reasons that make M-PESA particularly effective at
improving financial inclusion. In this assignment, let’s try to look at some other mobile banking
and/or payment options. Specifically, we will focus on understanding and comparing the
following:
• Alipay: hJps://en.wikipedia.org/wiki/Alipay
• M-PESA: hJps://en.wikipedia.org/wiki/M-Pesa
• PayPal: hJps://en.wikipedia.org/wiki/PayPal
• Paytm: hJps://en.wikipedia.org/wiki/Paytm
• Wizzit: hJps://en.wikipedia.org/wiki/Wizzit
The Wikipedia pages of these companies are included for your reference, but the Wikipedia
page is likely not enough for this report. Please add additional resources (e.g., academic
research papers, websites) at your discretion. If you use any resources, please use APA style for
your references. You may find a simple but informative guide to APA in this link. For more
detailed information regarding APA, please use the Purdue OWL website.
In this assignment, we will focus on understanding and comparing these potential mobile
solutions. Specifically, we want to unveil how they might or might not help unbanked
households.
Deliverable
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answers stronger, please consider citing the sources to support the evidence you provide or the
statement you make.